Chart Structure: - Stock is in a continuous uptrend. - Stock took a breather of 13% after a 58% up-move. - Currently stock is consolidating at a 10% range.
Volume: - Stock trended up with huge volume activity. - During consolidation around 40 lac shares were delivered from 23-29 July. All days delivery is above average. - On 20th August, there was a delivery of 7.30 lac shares - By looking at Volume bars, the supply looks exhausted.
Relative Strength: - Stock is outperforming both its sector (NiftyIT) & Nifty50 in 1W, 1M, 3M & 6M - Stock is also outperforming Midcap Index. - Spread Chart breakout happened today.
Financials: - In Q1, sales grew by 11% QoQ & 30% YoY - PBT growth was -2% QoQ & 46% YoY - PAT growth stood at -5% QoQ & -29% YoY
Other Positive Highlights: - At CMP, the stock is offering excellent RR. - Given the sectoral tailwind, the stock is also expected to perform well.
@singamvinodh, First target 25%, Second I'll trail profits till the support trendline breaches
manishsukhija1989
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Nice work @singamvinodh. . I also assume the same. . may be target will be achieved in next 15 days. . what you say. . would request you to pls post SL if first target gets achieved and also 2nd target too