Granules India Ltd_ SECTOR - Pharma
The company is fundamentally very strong with sales and profit growth, since past one year stock has given a phenomenon return of more than 300%.
But from past 6 month, stock was consolidating & range bound between 300 to 370 and Currently bouncing from 50% in fib retranchement with positive RSI.
If you seen a longer time frame, stock never voilated 20 EMA and taking support at key level.
The company valuation is reasonable and stock available at 16 P/E multilple, it will be a great long investment bet.
Trading Idea:
Entry at current level with Stop Loss of 10%
As stock has already given 20% return from support level, further expected return will be 25-30%.
But from past 6 month, stock was consolidating & range bound between 300 to 370 and Currently bouncing from 50% in fib retranchement with positive RSI.
If you seen a longer time frame, stock never voilated 20 EMA and taking support at key level.
The company valuation is reasonable and stock available at 16 P/E multilple, it will be a great long investment bet.
Trading Idea:
Entry at current level with Stop Loss of 10%
As stock has already given 20% return from support level, further expected return will be 25-30%.
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