Scrip price action can be seen taking a pullback after forming rounding bottom pattern for approx. 10 weeks and standing at attractive valuation currently with right P/E - www.marketsmojo.com
Expecting the scrip to first touch tp-1 and then, surpass 52-week highs this time after reversal and crossing...
#BANCOINDIA CMP 239.75 High volume breakout on 24 Nov from ascending triangle. Retracement towards top of triangle; copybook classical charting. Primary target: 320
Ascending triangle pattern spotted in Banco Products weekly and daily charts. Buy on the breakout for upside. Target marked in red at around 315-320.
Good luck to y'all..
Banco Products (India) Limited is engaged in the manufacturing and selling of radiators. The Company manufactures and supplies original equipment (OE) for commercial vehicles, passenger vehicles and industrial products. Its geographical segments include Within India and Outside India. It offers products in various categories, such as cooling systems, sealing gaskets, jointing gaskets and sheets, and rubber products. It designs, develops and manufactures engine cooling modules and individual cooling products for a range of industries. Its products in cooling systems category include Radiators, Charge Air Coolers, Oil Coolers and Engine Cooling Assemblies. Its products in sealing gaskets category include Graphite Composite Gaskets, Rubber Cork Gaskets, Rubber Precoated Beaded Gaskets, Multi Layered Steel (MLS) Gaskets for Cylinder Head and Exhaust Manifold applications, and Copper Gaskets. Its products in jointing gaskets and sheets category include BNA 3000, BNA 2900 and BNA 2500.
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BANCOINDIA
