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Vedanta , Long , Falling wedge What is Falling Wedge chart pattern? Rising and falling wedges are a technical chart pattern used to predict trend continuations and trend reversals. The falling wedge is a generally bullish pattern signalling that one will likely see the price break upwards through the wedge and move into an uptrend. How does it work? The falling wedge is a bullish stock pattern that begins wide at the top and contracts as prices move lower. It occurs when the price is making lower highs and lower lows which form two contracting lines. The falling wedge usually precedes a reversal to the upside, and this means that you can look for potential buying opportunities. Volume decreases during the formation of the wedge and should expand on the breakout.
NSE:VEDLLong
by Aditya_Pandit_0
6
long trade for long time investment.Increasing FY21/22/23 EPS estimates by 5.3/0.1/-0.9% on better than expected margin delivery due to benign inputs despite slow recovery in MT, Insti, OOH channels. 3Q revenues grew by 5.7% (4% volume growth) as pantry stoking normalized and transit cluster underperformed. BRIT continues to build on its strategic pillars of 1) innovations 2) affordable packs/pricing (biscuits–Rs5/10 in premium brands) 3) direct distribution (up 16% since March 20) 4) Adjacent product segments (Cake, Cream wafers, salted snacks, milkshakes) 5) cost efficiency programs (Rs2.5bn/1.5-2% of sales) and 6) high growth in Hindi heartland (1.3-1.6x). We expect BRIT to sustain efficiency gains given improvement of 1) 7% in factory productivity 2) 30% in wastage 3) 10% in depot space and 4) increase in direct dispatch from 8% to 22%. We believe launch of family packs in MT and Online and increased growth in segments like Rusk, Cake, Wafers, Croissants and Dairy based drinks will propel growth in coming quarters. I estimate 24.6% PAT growth in FY21E and 13.9% CAGR over FY20-23. We value the stock at 46xFY23 EPS and arrive at SOTP based target price of Rs4280 (Rs4301 earlier). Retain Buy.
NSE:BRITANNIALong
by gjoy623