I do not know fundamental aspects. Technicals show that the price can touch 205 in the coming weeks. Stop loss may be considered as the bottom blue line shown in the chart.
I have a personal opinion that the company is being hauled upon badly by the analysts, fund managers and others with their IN-VALUABLE recos. One should congratulate the company for coming out with the drug. Regarding Q4 financials, Q3 was good and after that there were good developments. Despite the results, the virus is spreading and it seems to be spreading...
Please see the chart. Moving in an upward channel.
Target achieved, thanks to Covid drug. Price expected to come to 490 lvls. One may consider long only after looking at coming results. As far my understanding, the new drug effect could be some where around Rs 10 Cr to the bottom line.
CHART OBSERVATIONS. SUFFICIENT TIME IS REQUIRED.
DAILY CHART INDICATES AN APPRECIATION OF 10% MIN. PLACE PROPER STOP LOSS.
MY STUDY SEES THERE COULD BE A FALL FROM 229 LEVEL.
REASONS FOR FURTHER MOVING UP ARE UNKNOWN TO ME. IF YOU KNOW, PLEASE COMMENT.
Target arrived from the day chart. Stop loss your discretion, as various factors are coming into play in this company.
Reasons may be fundamental in nature.
Since day chart is analysed, time frame can be for 3-4 months.
It has good chance to go up to 237. Resistance @ 190 and 205 enroute may be expected.
Pattern reminds me of Tata Motors. There also same type was observed and the break out was beautiful. You can see the posts on TML.
Seems to be as a GAME being played by BIGGGG guys.
Trade above the green line, shown in the chart!