Analysis Request: Elgi Rubber@sajid11 :
Hi man,
I'm doing great. Due to a change in the Tradingview policies, I'm unable to send private messages without sufficient 'reputation points'. (So if you find this analysis, then kindly like & show some reputation likes on my profile) :D
Jumping to stock analysis(Technical):
It is currently captured in a range-bound space. thus if you're a movement chaser, then consider buying it above 50 with a decisive weekly close.
Else, for Long term investing current range of accumulation is (35.5 to 37.5).
Either way, the Target 1 could be 63.5. But it can safely move beyond 70.
(Fundamental trivia):
Rubber is highly dependent on global demand, with production concentrated in South Asian countries. Hence, high covid lockdown in China + Most anticipated Capex cycle of India will be beneficial for this stock in the next 6months to 1 year.
P.S.: This is my point of view, kindly take a buy/sell decision based on your risk capacity. Also, not a Financial advisor.
Lastly, Help others to grow together! :)
