Technical views...
Dated 01-10-2021, LTP 232.45, given an up side Breakout from Downward Channel Pattern on daily chart with good Volume supprt. Most of the important technical indicators like MAcD, RSI, Stochastic etc turned bullish. Its a Buy candidate now ...
BUY Range = Open/232 - 225
Expected Target 245-260
Stoploss Close below 219
Time frame 1-2 months
Fundamental points...
1. Its a good quality company on the basis of long term financial performance.
2. Efficiency of management is very good.
3. Leading manufacturer and supplier of quality products of its sector
4 Valuations are Attractive ( 3 Price to Book Value)
5. ROE of 33% plus is a good point
6. Low Debt to Equity ratio at -0.32 times average approx.
7. Pledged promoter holdings is very low and almost insignificant.
