Weekly chart shows correction might have got completed here and wave analysis shows that share might achieve target of min 147 in 3rd/C wave. buy share looking strong on chart and company production has got restored in jan/feb24 after flooding in nov 23.
TN PETRO: (Swing)
Script is well set for a 50-60% up move.
Appropriate demand, supply and target zones are highlighted.
Trade offers a RR of more than 1:6.
Note: Do your own due diligence before taking any action.
Stock has retested major support level. It could give possible upmove Target could be 110,115 and could be better than this. ( Education purpose only, do your own due deligiance before trade).
This is not for investment purpose only shprt trade.
Impressive recent gains observed.
Crucial: Weekly close above 98 needed to signal more potential upside.
A successful breakout from TRR may pave the way for significant advances.
If the breakout fails, anticipate a retest of the lower green TSR (COVID level support range).
Stay attentive to key levels!
accumulation going on between 77 and 83 once crosses 84 level you wil see power returning and on breakout can target minimum 94 level. PE 8.9 BOOK Value 92 dividend yield 1.87 . roce 15.4 .roe 12 .DEBT free. clients HUL, JYOTI Capex of 435 Cr funded from internal accrual . New capacity to come up in next quater.
EPS of rs 10 book value rs 91 . crude prices have been down for june qtr, expended capacity to be coming up in next 3 to 4 month time , company debt free and expended capacity from internal accrual. buy once breakout above 80 will show real power. Accumulate for long and target of above 150
This is just my observation and not a recommendation to take an entry. I am not an advisor nor a SEBI registered, but a pure swing trader. One may put this chart on observation to learn.
Hope this shoots up!
Peace!
cmp 110
date 1/1/2022
trgt red lines
Disclaimer:
All information shared is just for educational purposes.
By no means shall we be accountable for any debits/losses amounting out of it.
We are not SEBI registered Analysts, so please consult your Investment Advisor and take rational decisions.
