One can buy Orient Refractory with the Stop loss as 250 and target open. A beautiful retest of a breakout is visible with negligible volumes indicating weak hands are out. Deliveries are also above 60% for the fall.
All time high volumes in weekly
also increasing in volume with price increment
so for short term buy above weekly high
or
for long term buy at CMP add till 240
Good support near 200-180
if closing below this then we may see more downside
Market Cap--₹ 3,641 Cr.
Stock P/E--49.5
ROCE--29.3 %
ROE--21.7 %
Company is almost debt free.
Good fandamentls
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
* Two chart pattern completing at the same time High conviction set up .If it made above 200-day moving average and life time high that gives more confident .
* In daily time frame high volume buying initiated today that gives gives a bullishness sign .
Kindly Let us Know if you have any questions.
