GRANULES--@Channel Breakdown??this stock is trading in a channel..
now price is at resistance zone...
look for short side if price breaks and retest for the support areas.
we have support lies at 365 zone.
Granulesindialtd
GRANULES - Stock AnalysisSymbol: GRANULES
Close: 387.2
Today's Volume: 7834685
Sector: Pharmaceuticals
Go Long above: 390
Stop Loss: 338
Resistance & Support:
📉 R: 394 || 402 || 413
📈 S: 376 || 364 || 357
Granules India Ltd Trend AnalysisOne of the global leaders in manufacturing and selling of Active Pharma Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages.
Fundamentally sound with good ROCE & ROE of around 19%
Available at fair value with a forward PE of approx 7.5 whereas Sector PE is at 25.5
Debt to Equity is 0.40 due to capacity expansion.
Highest ever operating profit in FY 2022-23
Technically price is near trendline support, expecting break of trendline support towards 250 levels according to the falling wedge pattern highlighted.
Accumulate around 250 levels in the green zone for the following targets:
Short term target @ 400 (60% ROI with 6:1 R:R)
Mid term target @ 525 (110% ROI with 11:1 R:R)
Long term target @ 650 (160% ROI with 16:1 R:R)
Stop Loss below 225 (Optional)
Do your own due diligence before taking any action.
Peace!!
