JCHAC - Huge volume breakout in Weekly timeframeJCHAC - Gave a nice breakout in the weekly timeframe with a huge volume. The stock is looking very good technically and fundamentally. This breakout is more likely to be a genuine one as the price action before the breakout was mainly consolidation and accumulation, a good 1:2 RR can be considered.
JCHAC
JCHAC buy if breaks 100 EMASales rise 33.83% to Rs 579.35 crore
Net profit of Johnson Controls-Hitachi Air Condition. India rose 520.53% to Rs 44.43 crore in the quarter ended March 2021 as against Rs 7.16 crore during the previous quarter ended March 2020. Sales rose 33.83% to Rs 579.35 crore in the quarter ended March 2021 as against Rs 432.91 crore during the previous quarter ended March 2020.
For the full year,net profit declined 60.37% to Rs 33.10 crore in the year ended March 2021 as against Rs 83.53 crore during the previous year ended March 2020. Sales declined 25.07% to Rs 1646.54 crore in the year ended March 2021 as against Rs 2197.37 crore during the previous year ended March 2020.
Johnsons Hitachi (JCHAC) at Year-Long SupportJohnsons Hitachi (JCHAC) stock is hovering at its year-long support where it has struck multiple times in the past. We are also at the 0.618 retracement from Aug'19 low to Mar'20 peak zone. We are closely monitoring the price action at this level. Any signs of bullishness would be a good time to go Long for a sharp up move. Will post an update on this post as we see something happening in the price of the stock.
JCHAC - Flag BreakoutJCHAC has shown a breakout from flag pattern.
Target = 2900
Stop Loss = 2400
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