On fundamental levels this company is solid. No Doubt. I will invest for next 10 years with my eyes closed, however question is AT WHAT PRICE ?? In my opinion on operation level company hasn't been doing good since last 5 months and need more correction in its prices. I would definitely buy this stock between 1170-1250. This is not a tip, its my personal opinion...
If you are a follower of a DOW theory Like me, you will be bullish too. However Since this period is affected by Covid-19, I wont be so sure and it might be a reversal of Primary Trend.
Chart is a much self explanatory.
My idea is there could be quick trade with holding period of 1-4 days and buy sale price range would fall between 1390-1450. Above 1450, 1474...
Volume Price Analysis
200EMA Crossed on 21/04/19
Constant fall in volume, still price movement is upward.
Clear Signs of Bearish Divergence over the period of 1-2 months
PPO -- Decline from 12/05 to 09/07
Rising Wedge Reversal-- yet to confirm, subject to pressure below 0 on CMF.
Stochastic Oscillator (20,5,5) -- Over Bought
RSI (14) -- Over Bought
Again in contact with upper line in Channel
OBV Indications --
1. 19/03 to 29/05
Price fell from 2610 to 1814
Volume Increased continuously
2. 02/06 to 07/07
Price rose sharply from 1851 to 3353