Trade setup: Weekly & daily: crossed long-term trendline (red line) & resistance (blue box) with volume and bullish candle. 50EMA >200EMA as well. Weekly closing was above psychological resistance of 100 INR.
Company key take aways (fundamentally): 1. Company is 100% debt free. 2. The main source of income for the company is by the way of dividends. 3. Company has a profit growth of 62% over the period of 3 years. 4. Company has a profit growth of 29% over the period of 5 years. 5. Operating cost of the company is extremely low as a result Operating Profit Margin of the company is more than 85%. 6. Company has reserves and surplus of 624 Crore rupees.100% debt free.
Buy Price = CMP = 100 INR SL = below swing low of 71 INR or below 200EMA on daily chart based on your risk apetite. Target: T1 = 107 INR, T2 = ATH ie; 149 INR disclosure: not invested
Trade active
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14June21: Target (T1) reached ie; 107 INR
Trade closed: target reached
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10Aug21: Looking at the volumes today, i closed the trade at 111.90 INR.