Bharat Wire and RopesBullish view on Bharat wire and Ropes
CMP:- 112.50
SL:- 108
Target :- 118
Technicals
RSI 64 on Daily time frame
Taking support of Horizontal trendline, which was acting as resistance previously (from August 2021 till august 2022) stock went up till 138 and then corrected taking support of fibonacci level.
Stock is trading above both 50 SMA as well as 200 SMA.
Fundamentals
Promoter has reduced their holding by nearly 3% in last one year and by 0.03% in last quarter.
Follow SL strictly if promoter decided to sell their stake further stock might correct sharply.
Disclaimer :- This is not any buy or sell recommendation, this analysis is just for educational purpose. Take any buy or sell call only after consulting with your financial advisor.
Keep Learning, Keep Growing !!
