Yearly result expected to be good as well as Q4 result. upside expected in short term of 3 to 4 months. As results are expected to be good and also there can be good news on the grain based ethanol plant which company is setting up to diversify business.
Technical side also- stock is consolidating near its previous 52week high of 27. And any positive news or...
Stock has moved from ASM stage4 to stage3. Recent results were good but being in ASM it did not show in stock movement. if the stock move steadily out of ASM and also Q3 result date is announced then stock can show some strength on the upside. Q3 results are expected to be good. on weekly chart if stock breaks the trendline then it can start moving upside based...
As per fibonacci retracements- it can hit 1st target of 30 and then next one around 46. Q2 results are excellent with PAT 18000% YOY and 85% QOQ. Also new product launched on 2nd oct and more products approved to be launched. Company also reducing debt.
After consolidation for almost 24 weeks. there is a breakout on weekly chart. This can move up from here on weekly basis with some resistance level already there in near term. Keep this on watchlist.
A clear breakout in daily chart. potential for more upside. june quarter result is around the corner. Also last quarter and yearly results showed significant increase in EPS. shows this stock can move up from here in near term. This is just for educational purpose. please take your own decision.
stock may fall to around 177 or 172 in near term. around that time this could be a good oppurtunity to buy. after results one can take a call to hold or book profit/loss. this is just for education purpose. not a recommendation to buy or sell.
after earnings this has broken out of consolidation and upside may continue for one more week. as the upside is supported with big volume. just my opinion. i can be wrong. as i am a beginner.
