Very big breakout on all timeframes
Price broke very strong resistance level and made a nice base around that level
Now few monthly candles have started sustaining above that base
In my view this is very strong chart pattern
mcap 18.7cr
stock pe 25.6 < industry pe 26.4
cmp 37.4 > book value 34.7
Dividend yield 0%
debt to eq 1.22
promoter holding 42.8% vs 35.44% in March 2017
Fundamentals are not very attractive and balance sheet is also weak
But chart structure is very strong on all parameters
Expecting very big upside
1st target is 5x
Took very small position as of now.. will add/reduce accordingly
But it is also important to keep in mind that company is microcap so it is very risky
Price broke very strong resistance level and made a nice base around that level
Now few monthly candles have started sustaining above that base
In my view this is very strong chart pattern
mcap 18.7cr
stock pe 25.6 < industry pe 26.4
cmp 37.4 > book value 34.7
Dividend yield 0%
debt to eq 1.22
promoter holding 42.8% vs 35.44% in March 2017
Fundamentals are not very attractive and balance sheet is also weak
But chart structure is very strong on all parameters
Expecting very big upside
1st target is 5x
Took very small position as of now.. will add/reduce accordingly
But it is also important to keep in mind that company is microcap so it is very risky