Interesting chart. I was following this company earlier. They seem undervalued from a P/E standpoint but i was waiting for their CFO to be more stable and not fluctuating each year. However, they have investments worth 2000cr+ generating other income of 200cr+ each year !
raavigeorgian
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@monkmaxims, That's great information. Gives more confidence in the chart.
monkmaxims
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@raavigeorgian, forgot to mention they have excellent margins as well. OPM nearly 14% and NPM nearly 13% ! And their asset turnover is morethan 10 times ! Price to book value = 0.42 & Price to Sales=0.78.Now i am seriously thinking of getting in ! lol !
raavigeorgian
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@monkmaxims, That's some killer data. You've got a great eye for a sturdy balance sheet. Also, of all the patterns, VCP is probably the most reliable pattern of all time. Wycoff used it in short term in the context of volume and called it absorption volume on rising lows.
Minhaj_AK
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Amazing BO today. Thanks bro. Next which level should be targeted?
raavigeorgian
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@Minhaj_AK, I don’t look for fixed targets, I go by Hourly 20EMA. If it breaks on a daily closing basis, I’m out. May re-enter later if and when the stock gives a bullish signal.
Minhaj_AK
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Today's volume is already above last attempt for BO(22nd Feb). Will have to wait for correction ?
raavigeorgian
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@Minhaj_AK, Momentum in the sector is good, should not go down much.