Granules - Ascending triangle in play
Scrip has been in ascending triangle pattern validated with 2 reactions lows and highs over time duration of around 2 months
If bullish momentum is maintained and the pattern doesnt get falsified as earlier seen for falling wedge, Breakout with higher volume surge can be seen to reach the target price and one can aim first for short term towards 52-week high (157) :)
Also, If quick downtrend towards oversold is seen, Scrip might take corrections like seen earlier so one can wait further for pullback/breakout/confirmation
Resistance (neckline) can be taken as support thereon after breakout
Rest in charts..
However, Few cons which can restrain the investors from coming in ..
screener.in/company/GRANULES/consolidated/
Cons:
- Company might be capitalizing the interest cost
- Negative cash flow
- Debt increased over period
If bullish momentum is maintained and the pattern doesnt get falsified as earlier seen for falling wedge, Breakout with higher volume surge can be seen to reach the target price and one can aim first for short term towards 52-week high (157) :)
Also, If quick downtrend towards oversold is seen, Scrip might take corrections like seen earlier so one can wait further for pullback/breakout/confirmation
Resistance (neckline) can be taken as support thereon after breakout
Rest in charts..
However, Few cons which can restrain the investors from coming in ..
screener.in/company/GRANULES/consolidated/
Cons:
- Company might be capitalizing the interest cost
- Negative cash flow
- Debt increased over period
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