After a breakout from the ascending triangle , there was a weak breakout which wasn't powerful enough to take on the next resistance. A retest of the previous resistance happened which is now a support. Now we see some accumulation going on near the resistance - always a good sign.
A breakout from the current resistance( 950) is expected but the stock will enter the high supply zone of 950-970. Smart traders will make use of this opportunity as well but for investors, it is advisable to enter only above 971.
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Fundamentally strong:-
Virtually debt free ROE for 3 years - 56.8% Dividend payout - 66.7% Stock PE of 12.9% vs Industry PE of 14% Promoter Holding 75%
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Moving just as expected. Keep holding for the rally
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Consolidation at this support is healthy for a fresh up move soon.
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Beautiful rally since the BO. Consolidates and flies.