A very strong and well tested uptrend. Testing at that line again. Good opportunity to buy. Fundamentally good, high ROCE and profit growth. Quarterly earnings have shown good recovery in sales. The company is making its highest ever profits and most expectedly will post higher profits than last year this fiscal as well. I don't see any reason why this stock should not retain its 52 week high or even breakout. I'm keeping a target of 2900 which is pretty modest. It might move even higher. But you must stop your loss if it breaks the trend and trades below it for too long. I will be updating the status of my trade here on this post.
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Thank you. Please like this post if you like the idea and follow to get more such ideas. I try to post every good idea I come across. Do comment and let me know if you disagree and have a different opinion.