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The newly listed BHARAT_DYNAMICS of govt_of_india has beeen moving in a range sine its IPO in May. Currently testing the base for a Reversal or a breakdown.
All Set or a major Upmove
Lot of supply from retail IPO crowd around 418
Next Stop 428
Selling to come from Retail IPO subscribers at Rs 418 and then from HNI's at 428.
However the stage is set for a massive upmove.
A Rs 7700 crore Mcap stock with 490cr profit (FY 17) and likely 500cr profit (FY18)
Channel trading 372 - 410 since a bad IPO listing
However now with shares in stronger hands, it should see a steady rise.
The GReeN bars on the first day of trade and yesterday (16th Apr) is a Bullish Belthold.
418 and 428 would see some selling as those are the IPO prices (for Retail and Others respectively)
Fundamentally too very strong.