As you see the price is moving inside an ascending channel.
It broke out of trendline resistance in August and now retested for potential upside.
RSI is adding more confluence by showing strong bullish divergence.
It is currently trading at a forward PE of 14+ whereas the industry PE is around 28.
A gem amongst its peers with robust fundamentals.
Do check its fundamentals to see how steadily reserves and EPS are growing.
Good to buy at CMP with stop loss at 240 for following targets.
Short term swing target @ 350 (32.7% ROI with 3.64 R:R)
Medium term swing target @ 485 (84% ROI with 9.34 R:R)
It definitely has the potential to achieve 700+ level in long term, will update once it achieves the medium term target.
I don't think stop loss is required.
As always do your own due diligence before taking any action.
Peace!!
It broke out of trendline resistance in August and now retested for potential upside.
RSI is adding more confluence by showing strong bullish divergence.
It is currently trading at a forward PE of 14+ whereas the industry PE is around 28.
A gem amongst its peers with robust fundamentals.
Do check its fundamentals to see how steadily reserves and EPS are growing.
Good to buy at CMP with stop loss at 240 for following targets.
Short term swing target @ 350 (32.7% ROI with 3.64 R:R)
Medium term swing target @ 485 (84% ROI with 9.34 R:R)
It definitely has the potential to achieve 700+ level in long term, will update once it achieves the medium term target.
I don't think stop loss is required.
As always do your own due diligence before taking any action.
Peace!!