Patten : Cup and handle pattern completed
Volume in past few months : Near to All time high
Fundamentals :
Sales in 2015 - 439 crores (Price ~140 rs)
TTM sales - 1768 crores (Price ~40 rs)
To be checked : If current quarter results will be high, stock is ready to move to ATH price.
Seems like it has retested its important breakout level with high volumes and if it stays above breakout level (~2385 range) it rise up to 21% from its current price in very short term
Balrampur Chini had been consolidating for quiet some time now. Seems like it has retested its breakout level with very high volumes and ready for its upward move if it stays above 398 (breakout level) . Target 1 ~18% (Depth of box)
A beautiful Cup and handle pattern in making with very high volumes on a weekly time frame.
Supporting factors -
1. Improving results
2. Sales close to all time high (TTM)
Cons - Net profit still has to be improved.
Target : Can be a turnaround candidate and reach till ATH.
Astral limited was in consolidation mode since last 4 months, but now it seems like it is moving out of the box. If stays above 2412, it has upside potential of 16-18% (depth of the box)
This is just for educational purpose.
Let's learn,
Prashant Singh
