Agrochemical stock pick before budgetSharda cropchem has been consolidating near strong demand zone of 400-420.
Stock has bounced from trendline which indicates confluence of support bounce
Stock can reverse before budget as chemical stocks have shown strength.
Low risk high reward trade. Stock has good fundamentals as well to hold for longer time horizon.
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SHARDACROP
#StockMarket #StockIdeas #StocktoWatch #StockToBuy #positionalSHARDA CORP
Recently Stock shown some good move and then Consolidating in a range from feb
Volume almost dried up during consolidation.
Also took support from 50DMA
Now After Range breakout on chart above 585 levels again price retracing
Could be a good bet to buy for targets of minimum 660
Keep watch list for Intraday also, use 5min chart for Target and Sl levels based on support and resistance
Also Stock can be hold for midterm to longterm also
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
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Sharda Cropchem Breakout and RetestNSE:SHARDACROP
Fundamentals :-
ROE for last 3,5,7 and 10 years > 15 (greater then 15 is good).
Sales and Profit 5 year CAGR at 13.55% and 11.68% respectively (double digit growth and increasing sales every year since 2010).
Debt to equity at 0.02 (less than 1 is good), Interest coverage at 115 (greater than 3 is good), Current ratio at 2.40 (greater than 1.5 is good).
Dividend yield of 1.25% and constant dividend payer since 2014 (investor friendly).
Positive cash flow company.
PE (12) less than long term average PE (18.5).
All in all, good fundamentals and room for growth.
Breakout happened on 15th' February, now it's retesting the breakout point. Buy if it crosses Rs.344 with a stop below Rs.300.