Hikal Ltd Low Risk High Reward IdeaAs per analysis, NSE:HIKAL has been continue sustained above 60% retracement level of 283.
Best buy level to take entry is 298 with small stop loss of 270 (-28). My expected upside target would be 334 (+36) & 410 (+112). This could be low risk and high reward positional trade.
Note: this is my personal analysis, only to learn stock market behavior. Thanks.
Hikallong
Hikal looking towards making new highsHikal Ltd. provides solutions related to Pharmaceuticals, Crop protection, Specialty Chemicals and Research & Technology. Hikal has five manufacturing facilities in India at Maharashtra, Gujarat, Karnataka and a Research & Technology centre at Maharashtra. Hikal CMP is 319.45.
Negative aspects of the company are high valuation (P.E = 50.2) & declining annual net profit. Positive aspects of the company are improving cash from operations, low debt, zero promoter pledge, FIIs are increasing stake, MFs are increasing stake & promoter holding increasing.
Entry in the stock can be taken after closing above 331. Targets in the stock will be 350 & 367. Long term target in the stock will be 383 & 403. Stop loss in the stock should be maintained at closing below 281.