Craftsman Automation Ltd Trend AnalysisTo everyone, it looks like reverse H & S pattern but it is not actually.
FIIs & DIIs have increased their holdings in June quarter.
Now everyone is bullish so it will do the opposite.
Technically price is forming medium bearish divergence with RSI on daily TF.
Fundamentally overvalued with high debt to equity and increasing trend of trade payables.
30-33% correction will make it an attractive buy considering future growth potential as company has increased its CAPEX and revenue came back to track after getting hit due to the pandemic.
Expecting a correction till 1760 level.
Good to accumulate around 1700-1800 levels for a strong upside.
Will update the targets after price comes to the accumulation zone.
Stay tuned to my insights regularly so that you will not miss any opportunity to take the desired action right on time.
Do your own due diligence before taking any action.
Peace!!
