The stock of Symphony has been following a descending triangle pattern. It has a strong demand zone near 800 levels and currently, its looking to give a bullish breakout from the trendline resistance. Next supply zone is around 1200-1220 levels.
The company has also announced a buyback at Rs. 2000/ share. Also, the summer heat might help boost the revenue in Q4...
So, let’s not forget the great power crisis we were in just few weeks back. India did not have enough coal they said.
Let’s not forget March starting AC will be running and we will need gigantic supply of power.
Let’s also understand that everything else has ran up quite significantly and needs a breather. Coal India and NTPC have not run so much.
Best time to...
