Price has formed a Head & Shoulder Pattern with declining volume suggesting price is heading towards the technical target of H & S pattern which is around 650 level.
Fundamentally sound but CMP is more than 10 times its book value, better to buy when PE will be around 20-25 levels
Key support level and golden FIB zone will add more confluence to 650 odd levels.
Better to accumulate around 600-650 levels for the following targets:
Short term swing target @ 970 (51.5% ROI with 3.67 R:R)
Medium term swing target @ 1240 (93.75 ROI with 6.75 R:R)
Long term positional target @ 1555 (143% ROI with 10.17 R:R)
Stop loss around 550.
Do your own due diligence before taking any action.
Peace!!
Fundamentally sound but CMP is more than 10 times its book value, better to buy when PE will be around 20-25 levels
Key support level and golden FIB zone will add more confluence to 650 odd levels.
Better to accumulate around 600-650 levels for the following targets:
Short term swing target @ 970 (51.5% ROI with 3.67 R:R)
Medium term swing target @ 1240 (93.75 ROI with 6.75 R:R)
Long term positional target @ 1555 (143% ROI with 10.17 R:R)
Stop loss around 550.
Do your own due diligence before taking any action.
Peace!!