This is a beautiful setup which seems ready for a take off.
Accumulate before it flies.
Market Cap ₹ 818 Cr.
Dividend Yield 0.98 %
OPM 5Year 10.3 %
OPM 15.3 %
Pledged percentage 0%
Debt to equity 0.13
Promoter holding 59.5 %
Inverted head and Shoulder Pattern on the weekly chart.
The stock has been taking resistance at 2 major trend lines. Going forward also, these resistances will be profit booking areas.
A huge accumulation of smart money + good results suggests this stock can go big.
Q1 FY2021-22 Q4 FY20-21
Total Income ₹ 508.77 crs ₹ 445.82 crs Up 14.12%
Falling Wedge Breakout.
The orange line in this chart seems to be a very significant line providing early directions of rallies.
Instead of me explaining, a few minutes of observation could give you a better understanding.
A Swing trade opportunity is found in SH Kelkar and co. as:
1. Price reversed from lower trend line of parallel channel.
2. Continues hidden bullish divergence is observed between price and RSI. ie, while price making higher lows, RSI makes lower lows.
This guy gave a BreakOut after 11.5 years,
as we can see in the weekly Time frame it has broken out with a Strong MARUBOZU candle (which indicates a strong bullish candle).
We can enter keeping a strict SL below Descending Tl which is 115-113 (risk is as per our appetite).
This analysis is just for education purposes.
Before entering please ask your financial...