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Likhitha Infrastructure Ltd for Long.*What the company does ? Likhitha Infrastructure Ltd is a company that specializes in tasks like laying pipelines for supplying gas, constructing canals for irrigation, building bridges over those canals, and carrying out maintenance work related to these projects since 1988. Company's clients- GAIL, IHB, HPCL, IOCL, ONGC, IGL, IOAGPL, TGPL, IGGL, BPCL, etc. *Future Outlook: The company plans to expand into new areas by taking on Tankage Projects and is anticipating an order from IOCL (Indian Oil Corporation Limited). It is exploring opportunities in regions like the Middle East, Africa, and other countries with high demand for Pipeline Infrastructure companies. The company is in discussions with multiple Offshore T&I (Transportation and Installation) companies to enter the Offshore business. Fundamentals >>Company is debt-free. >>Expected to have a strong quarter. >>Impressive profit growth of 52.6% CAGR over the past 5 years. >>Consistent track record of good return on equity (ROE), with a 26.6% ROE over the past 3 years. Technical >>The stock is consistently moving upwards in an uptrend. >>The price of the stock is consistently reaching higher highs and higher lows. >>This trend is supported by a strong level of support Formed by the stock. >>The price has experienced some pullbacks recently and is now trading close to a support level. >>We have an opportunity to potentially make a 10% gain from the current price level by placing a stop-loss order below the trend line. If you've reached the end of this section, thank you for your patience. If you found this analysis helpful, please show your support by pressing the like button. #trading #Ideas #Breakout #Analysis.
BSE:LIKHITHALong
by BullishLine
Abbott India is gearing up to give Breakout.Company's Overview. Abbott India Ltd is one of the market leader and multinational pharmaceutical company in India with a global presence in over 160 countries. It has a legacy of more than 130 years in the industry. Revenue Breakup. In FY22, injectables contributed around 40% of the revenues, followed by tablets at 39%, liquids at approximately 16%, capsules at 3%, and other products at 2%. Financials. >>Almost debt free company. >>ROCE- 41.1%, Which is considered to be an excellent return. >>Good growth can be seen in net profit margin. >>Maintaining a healthy dividend payout of 76.8%. Technical. As we have seen Last week, all chemical stocks had a good rally. It looks like this rally will continue further. So we will keep a close track on this stock because it still falls under one of the undervalued stock category. This stock was consolidating within an uptrend parallel channel. Last week, it closed near its resistance level. If it breaks out with a big candle and significant volume, we can enter the trade. We'll use a 1:1 risk-reward management strategy for this trade as explained in chart. This is my Analysis, I might be wrong sometimes Please do your 'own' due diligence before taking trades.
NSE:ABBOTINDIA
by BullishLine
Keep a close eye on Rites LTD. Company's Overview RITES Limited is a company in India that was started in 1974. It is a government-owned company and is known for its expertise in transportation consulting and engineering. The company is the only export arm of Indian Railways for providing rolling stock overseas. Technical As visible from the chart price has retested its resistance multiple times and came back to the support level. today it has closed with a fairly good green candle and almost touched the resistance. It has all potential to break its trend line and we can anticipate a significant move above the Line. However we have to wait for a strong confirmation. If the candle breaks its resistance and sustaining above the line, entry can be initiated. One can trade by putting 1:1 risk reward ratio. BUY- 390 TARGET- 415 STOPLOSS- 364 Please note I'm not SEBI registered, I have shared this Analysis for education purpose only.
NSE:RITESShort
by BullishLine
Breakout in WIPRO ?Despite a negligible decline in Q1 earnings, Wipro has experienced a strong breakout today. While there has been some profit booking and a minor correction after the significant momentum, it would not be accurate to consider it a false breakout. In fact, there is still significant potential for further growth. After a 50% correction, Wipro is now set for a promising upward move. The IT sector, including companies like TCS, Tech Mahindra, Mindtree, and Infosys, has recently shown strong momentum. This suggests that Wipro might join the rally and experience similar upward movement. Considering the current price range we will not set the target more than 6% at this juncture. As an another strategy we can also wait for the price to give a pull backs to its breakout line and then taking the trade will make this trade less risky. It was just my analysis. Do your own due diligence before investing.
NSE:WIPRO
by BullishLine
Nifty 50 Weekly Market Outlook July Week 3, 2023Weekly Review: The Nifty 50 closed at 19,564.5 gaining +1.2% from the previous week. The Index closed on a positive note supported by 150 points rally on Friday overpowering bears majorly supported by a +4.3% rally in the Nifty IT index. The index stayed within a tight range of 19,333-19,516 in the previous week. On Macro Economic front, India's CPI surged to 4.8% in June but stays within the RBI tolerance band of 2-6%, this surge is majorly impacted due to delay in the monsoon which has caused supply shock within markets pushing retail inflation to surge for a short-term period. Weekly Forecasts: On Daily charts, Nifty 50 stayed above the channel bandwidth point of 19,433 with upward momentum. The channel since April 2023 contains almost 97.6% of the price action till the present day and hence the channel bounds for obvious reasons now act as key Support and Resistance levels at 19,125 and 19,756 respectively. Evident from the past week's surge, a sustained move above 19,433-19,500 is expected to push index to 19,673 and 19,756 . On lower levels, I feel 19,333 is the first support level where index can see a sideways movement and a breach below this level can push index to 19,224, 19,125(key support) and 18900 levels . Earnings calendar is keeping the bulls in control. This is evident with a positive reaction in share prices, even with subdued earning of IT giants like Infosys, TCS, Tech Mahindra and Wipro that such growth and numbers are being well factored in the share prices. *Disclaimer*: I am not SEBI registered analyst and hence the above market outlook is for only educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
NSE:NIFTY
by chandakpulkit
Bank Nifty Levels for 24-05-2023In Bank Nifty Upper side 44075-44150 is Important Level and Lower Side 43750 is important level. Previous day Bank Nifty has closed @ 43885. Check Previous Day Level Performance and comment. For any Feedback and Suggestion, please free feel to message us. Disclaimer: Content shared on or through our digital media channels are for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:BANKNIFTY
by easi2invest