Among India's oldest paint companies. Capex for this co is complete and then wont need any capex for the near future. The company is managed by an able management which includes part of the team from APL Apollo. Management has set a vision to take the turnover from approx 350cr - 1000cr over the next few years. Current market cap is barely 1%.
Price trading inside a channel pattern and currently taking support from the trend line and moving up to break the resistance to reach the channel top that is 85 level. Have your stop below the channel if you enter long now.
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Good results and growth both YOY and QOQ. Go long above marked price and keep a 3% staples as this setup too has failed multiple times previously.
I would wait for the first move before added or look to keep this on the watch list to add on a retest.
SHORT TERM INVESTMENT PICK (3-6 Month):
Looking at chart and price if it breaks above the box 92+ and stay there couple of days will be good move to upside. HOWEVER ONE MUST ENTER ABOVE 106 after seeing comfortable daily closing for few days. We can see 145 or 200 on cards (40% to 80% gain). Don't assume let price show the path.