ASALCBR potential breakout - Strong prior uptrend.
- Trading in a narrow range.
- Mini coil formation.
- Low risk entry point.
- Took support from 9EMA.
- Volume contraction.
- Strong sector.
ASALCBR
#RADICO 1564 TGT2260 #SULA #INDIAGLYCO #TI #UBL #MCDOWELL-N #NSERADICO 1564
TGT 2260
SL 1360
RR>3.5
Return > 45%
Risk < 12%
Timeframe <8M
NSE:RADICO
Buy Recommended
Can hold for long term
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By Rachit Sethia
Associated Alcohols is in high spiritsAssociated Alcohols & Breweries Ltd. is in the business of manufacturing and trading of ENA (Extra Neutral Alcohol), Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL) & Hand Sanitizer. Associated Alcohols & Breweries CMP is 408.40. Negative aspects of the company are declining annual net profits and FIIs are decreasing stake. Positive aspects of the company are low debt, improving cash from operations annual and zero promoter pledge. Entry after closing above 414. Targets in the stock will be 435 and 463. Long term target in the stock will be 486 and 500+. Stop loss in the stock should be maintained at closing below 387.
