Technical alert from my screener. Company is at good valuation and posted a good Q2 result. Price action around 200EMA suggesting a potential upmove. EV/EBITDA - 6.7 PE ~ 13 and PB ~ 2 Rubber futures are also on an uptrend which can turn to more bottom line growth for the company
One can BUY NSE:NOCIL at CMP till 270. STOPLOSS BELOW 260 EXPECTED RETURN- 20-30% Price is in uptrend and currently taking strong support at 21EMA and neckline of a small inverted Head&Shoulder pattern, Heavy accumulation can be spotted for the last 3 months depicted by long body candles with heavy volume near support. LIKE AND SHARE WITH YOUR FRIENDS NSE:NOCIL
Bearish pattern created in MRF, once falls below 77000 then more downside coming soon.
nocil : after 3 month consolidation stock SEEM to set for a QUICK run to 170 /175 area stop loss 134/137 area seem safe after it sustain there it is possible to kiss 190 area tooo to cross 200 , ideally should take some consolidation
MRF Inside bar at S/R zone. Go long if it crosses high of inside bar. Short if it crosses below low of inside bar.