World's leading basmati rice producer KRBL Ltd trend analysisPrice is moving inside cycle degree 5th wave of super cycle degree 3rd wave.
Good time to buy as price is at the initiation of sub wave 3 of 5th wave.
5th wave will end somewhere around 2150 level.
As per conventional technical analysis, price bounced from trendline support and price is showing strong bullish divergence with RSI on daily & weekly TF, signifying trend reversal.
PE expansion is highly likely with improved OPM in upcoming quarters, price is currently trading near June 2016 levels.
A nice 7X possibility is there in long term (2-2.5 years max).
Other targets are highlighted as per your investment horizon.
Do your own due diligence before taking any action.
Peace!!
