Bottom-out counter, #GRMOVERLooking cool according to technical and price pattern basis, it could be a bottom out candidate based on Weekly and Monthly time frame.
Fundamental-
*Track the Quarterly basis performance*
Budgetstocks
BUDGET 2024: Technical Outlook & Money Flow in Different SectorsNSE IT SECTORS NSE:CNXIT
TREND: POSITIVE
India IT sector is currently on an upward trend.
After a bullish Pole & Flag pattern was spotted on the chart, a breakout occurred leading to a surge in index and the formation of a bullish Pennant pattern.
Encountering resistance at the 38,600 level, the IT index underwent a correction and consolidation phase.
During this consolidation, a Rounding Bottom pattern emerged, suggesting a potential continuation of the trend.
Since the breakout, the index has successfully maintained levels above the breakout point and is steadily climbing higher.
NSE FMCG SECTORS NSE:CNXFMCG
TREND: POSITIVE
The chart shows a strong uptrend.
In the past, there was a bullish Pole & Flag pattern formation, resulting in a surge after the breakout.
The index faced significant resistance at 58,000, causing a correction and consolidation.
A Cup & Handle pattern appeared emerged in the chart, suggesting a potential continuation of the trend.
The recent breakout in the cup & handle pattern suggests that the FMCG index has managed to stay above the breakout level and is gradually moving higher.
NSE METAL SECTORS NSE:CNXMETAL
TREND: NEGATIVE
The metal industry underwent a period of consolidation time and again in the past.
Reaching a peak near the 10,200 level, the metal index consolidated again, and a recent breakdown suggests a potential downward movement.
Looking at the downside, the 8,800 level could serve as a solid support, leading to a possible rebound in the index.
NSE MEDIA SECTOR NSE:CNXMEDIA
TREND: NEGATIVE
A bullish Ascending Triangle pattern was visible in the chart earlier.
Instead of breaking upwards, the index experienced a breakdown, marked by a powerful bearish marubozu candle.
Furthermore, the support level was breached, leading to a notable decline.
The index eventually found support and traded within a box pattern.
Following the breakout, the index rallied but encountered resistance at the former support level, now acting as a resistance post-breakdown.
It is anticipated that the Media index will continue to decline and potentially find support around the 1,750 level.
#BudgetUnion Kothari Sugars And Chemicals Ltd. MULTIBAGGER StockThis Company should be next Multibagger Stock in 2024-2025. This stocks has potential to gave a unpredictable growth. This Company is engaged in manufacturing of Sugar, Alcohol and Power.
It also caters to the demand of both domestic and International markets. And the most important thing is that it manufactures ETHANOL.
The company has shown a good profit growth of 29.25% for the Past 3 years.
The company has shown a good revenue growth of 20.02% for the Past 3 years.
The company has significantly decreased its debt by 18.35 Cr.
Company has a healthy Interest coverage ratio of 15.09.
Company’s PEG ratio is 0.74.
The company has an efficient Cash Conversion Cycle of 24.35 days.
The company has a good cash flow management; CFO/PAT stands at 1.39.
The company has a high promoter holding of 73.53%.
The company has a strong degree of Operating leverage, Average Operating leverage stands at 18.70.
