Technical Overview:
1. Breakout of Falling Trendline:
EVEREADY has recently broken out of a long-term falling trendline on the weekly chart. This breakout suggests a potential reversal in the downtrend and the beginning of a new bullish phase.
2. RSI Breakout:
The Relative Strength Index (RSI) has also experienced a breakout, indicating a shift in...
Eveready Industries Ltd. CMP – 355.60
Market Capitalization Rs 2,584.8Cr
Red Flags:🟥
High Valuation (P.E. = 62.5)
Declining annual net profit
Declining cash from operations annual
Green Flags:🟩
No debt
Low debt
Zero promoter pledge
FIIs are increasing stake
MFs are increasing stake
Previous Happy Candles Number – 50/100
New Happy Candles Number – 50/100
X/2...
Eveready Industries India Ltd intends to maintain the pace of topline growth, witnessed in FY23 after many years of stagnation, with adequate profitability in this fiscal as the dry cell battery maker completed the first year under the Burman family ownership.
The company will focus on three core areas of operations — battery, flashlight and lighting — in FY24...
For the last three years the stock has been no where. Expecting a good rally at the end of this consolidation phase. All the levels are marked on the chart itself. Any major development will be posted here.
NSE:EVEREADY
Nice setup for Swing Trade
✳️ Entry Around 303-308
🚨 Stop Loss 288 DCB
🚀 Target 342, 370, 420++
Duration 1-2 quarter
Disclaimer -
This is our personal view and this analysis is only for educational purposes.
Please consult your advisor before investing or trading.
You are solely responsible for any decisions you take on basis of our research
The company’s core categories of batteries and flashlights, are witnessing a healthy demand,
given the sharp decrease in dumped imports from China and the disruptions caused to the
unorganized market for non-availability of supplies.
• The management is positive on its battery segment and expects the segment to gain momentum
once the full effect of the...
