GNFC analysis
FC - Gujarat Narmada Valley Fertilizers & Chemicals Ltd. today
ema9: 600.90
ema20: 638.10
ema50: 669.55
ema100: 676.55
ema200: 645.15
ROE 5yr: 17%
Strong EPS growth over the last 5yrs
ROCE 5Yr: 20%
Debt to Equity: Zero
Strong cash flow from operations in the last 2yrs
Increasing Annual Net profit
Pledged percentage: Zero
A good growth stock which should realise its true potential
Stock P/E: 4.50 vs Industry P/E: 12.9(P/E ratio under 10)
Technically speaking the stock was in a downtrend until today where it has shown some hope of reversal.
Support Area: 505-533
Strategy: Look to buy at support area.
Recommendation: The stock has been in a downtrend since 25.10.2022. Support area being at a very reasonable distance the ideal call would be to wait for price to enter the support zone. However we have witnessed a Bullish Engulfing reversal candlestick on the daily time frame which creates a good opportunity to enter this counter. The stock has made a low of 549.15 and a high of 579.30 today before closing the day at 576.10.
We recommend a buy above 579.30 for a target of 735(Initial Target) and then on move towards our long term Target of 900+. Stop loss can be place below 505. For those who would like to follow the Price action set up we recommend a buy above 579.30 with a stop loss of below 549 for a Target of 609(1:1) and the next Target of 639(1:2)
Intraday traders book your profits at the earliest and trail your profits.
ema9: 600.90
ema20: 638.10
ema50: 669.55
ema100: 676.55
ema200: 645.15
ROE 5yr: 17%
Strong EPS growth over the last 5yrs
ROCE 5Yr: 20%
Debt to Equity: Zero
Strong cash flow from operations in the last 2yrs
Increasing Annual Net profit
Pledged percentage: Zero
A good growth stock which should realise its true potential
Stock P/E: 4.50 vs Industry P/E: 12.9(P/E ratio under 10)
Technically speaking the stock was in a downtrend until today where it has shown some hope of reversal.
Support Area: 505-533
Strategy: Look to buy at support area.
Recommendation: The stock has been in a downtrend since 25.10.2022. Support area being at a very reasonable distance the ideal call would be to wait for price to enter the support zone. However we have witnessed a Bullish Engulfing reversal candlestick on the daily time frame which creates a good opportunity to enter this counter. The stock has made a low of 549.15 and a high of 579.30 today before closing the day at 576.10.
We recommend a buy above 579.30 for a target of 735(Initial Target) and then on move towards our long term Target of 900+. Stop loss can be place below 505. For those who would like to follow the Price action set up we recommend a buy above 579.30 with a stop loss of below 549 for a Target of 609(1:1) and the next Target of 639(1:2)
Intraday traders book your profits at the earliest and trail your profits.
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