Technical Smart Money Fundamentals Psychology Analysis · 2020. 10. 10. · Bullish Patterns: Rounding bottom, Multi year breakout, Double Bottom, Inverted Head & Shoulders Pattern,

Technical Analysis

Smart Money Fundamentals Psychology

Twitter Handle - @AshishChatur

Disclaimer

The following presentation is for educational purpose only, to understand the concept of technicalanalysis and other studies. We don’t intend anyone to trade or invest based on this educationalpresentation, nor we are liable for any losses of any decision taken based on this presentation.


Technical

Analysis


Top Down Analysis➢ Monthly➢ Weekly➢ Daily

Identify Market Structure➢ Patterns➢ Support & Resistance➢ Long term Trendline➢ Volume and Delivery activity

To Add: ➢ Pattern within Pattern➢ Fibonacci retracements➢ Averages➢ Indicators

How to find the winning trades


➢ Bullish Patterns: Rounding bottom, Multi year breakout, Double Bottom, Inverted Head & Shoulders Pattern, Pole and Flag, etc

➢ Fibonacci retracement ratios

➢ Pickup in volumes and delivery %

➢ Institutional & HNI activity - Increase in Bulk & Block deal

➢ Comparative strength vs Peers vs Sectors vs Benchmark

➢ Liquidity, Index inclusion, Portfolio Concentration

➢ Buy Value stocks only once momentum sets in otherwise stuck in consolidation

➢ Stop loss either on time or particular % correction whichever is earlier depending on market cap

➢ Small Cap - Art of Exit


Top Down AnalysisMonthly

S D M13 J S D M14 J S D M15 J S D M16 J S D M17 J S D M18 J S D M19 J S D M20 J S

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3456.90

1-Info Edge (india) Limited - 09/10/20 F7Net

Monthly

QtyLine, Avg(QtyLine:S:10), DelQtyLine

Long term uptrendHigh top High Bottom formation

Though price below low of 1830, it bounce back to close above it

March fall


Top Down AnalysisWeekly

O N D F18 M A M J J A O N D J19 F M M J J A S O N J20 F M A M J J S O

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Weekly

Avg(CloseLine:S:50)


50 week moving average support

Price quickly moved back above average


Top Down AnalysisDaily

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Daily


Stock is consolidating above it previous high before next leg of up move


Patterns


Rounding Bottom

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1-Dabur India Ltd. - 31/07/19 F7

Weekly

QtyLine

Breakout

Breakout Volume

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Height =320-260=60

Target = 320 + 60 = 380

Retest of breakout level


Double Bottom

S O N D J15 F M A M J J 31 A S O N D J16 F M A M J J 29 A S O N

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1-Tata Motors Limited - 29/07/19 F7

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QtyLine

Neckline

Botto m#1

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Botto m#2

Momentum Breakout

High volume on Breakout

Height =430-280 =150

Target = 430+150 = 580


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1-BATA INDIA LTD. - 26/07/19 F7

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Bullish/Inverted Head and Shoulders

Source: Seediff

Neckline

Right Shoulder

Head

Left Shoulder

BreakoutHeight =605-400 =205

Target = 585+205 =790

Volumes on breakout


Be opportunistic


• Universal Cables – M – Line chart

• Vol – smart

• Avenue – Future Retail - Vmart


Two year consolidation

Volume

Higher the consolidation, the better..

38%


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1-V-MART RETAIL LIMITED - 13/12/19 F7

Weekly

QtyLine

430%

• Page Industries

• Britannia

• KEC


160Breakout

Multi year high breakout

• Page Industries

• Britannia

• KEC


110%

Breakout

VOLUMES

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1-SHAKTI PUMPS (INDIA) LIMI - 31/07/19 F7

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Breakout

Breakout Volume

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95

Height =280-95=185

Target = 280 + 195 = 475


Comparative Strength vs Peers vs Sectors vs Benchmark


Mapping Fundamentals with Technical

Fundamental Analysis Technical Analysis

1. Concentrates on the financial drivers of the economy itself

1. Focuses solely on charts and past price behaviors

2. Re-Rating Criteria Earnings, Earnings and Earnings

2. Re-Rating CriteriaBuyers become aggressive than sellers

3. Focus on factors like ROCE,ROE,PE etc.

3. Focus on factors likeMoving Averages, Breakouts etc.

4. Strategy It is used to find the intrinsic value of the company to evaluate whether the stock is overprices or underpriced

4. Strategy It is used to find the right entry and exit point of a stock.

5. Examples ITC Limited is a strong company with huge amount of cash on books and having a high dividend yield.

5. ExamplesITC Limited is a great company but not having significant buyer interest thereby indicating that, sellers are more aggressive than buyersTwitter Handle - @AshishChatur

Good Business Good Cycle – Buy on dips, Buy on Rallieseg HDFC Bank, Nestle India, Infosys, Asian Paints, Bajaj Finance

Good Business Bad Cycle – Be Opportunisticeg Tata Steel, L&T

Bad Business Good Cycle – Buy on every breakout, Sell on first significant reversaleg HEG, Rain Industries,

Bad Business Bad Cycle– Don’t toucheg JP Associates, RCOM, HCC,etc


Define your company

Covid-19 Leading to a Structural Change in Business

• Post Break-out of Covid-19 globally, businesses had come to a standstill impacting each Industry in the worst possible manner. The breakout of Covid-19, impacted health taking several lives unlike the 2008 financial crisis.

• Outbreak of Covid-19, forced people to change the way of doing business i.e. work from home, maintaining social distancing, Promoting Online Sales, etc.

• Currently, the focus of every company is to operate with maximum utilization of resources and minimum health impact.

• As said that there is always brightness after dark night, two sectors have witnessed structural change in their business model which are as under –Information Technology & Pharmaceuticals


Information TechnologyEvery dimension of Tech Industry will see a structural shift as relevance and value of technology to the client has never been higher

- Rajesh Gopinathan, MD & CEO, TCS

• Tech Industry is at the cusp of a significant growth phase as last 6 months have accelerated the acceptance of Digital tech in business across industries and geographies.

• Remote and collaborative models are in focus as clients try to merge Work from Home with Work From Office

• Companies are moving workload to cloud and cloud is the new ERP, but true business value will be unlocked when digital core is transformed

• Growth will be in phases where Phase 1 will be to improve resilience of infrastructure and shift the core of the organization to a Digital core. Phase 2 will involve companies using the Digital Core in phase 1 as a stage to transform the organization at an application and business processes level

• Currently the Clients look for quality and understand the value of stability in vendors during current times, hence companies with strong balance sheets with cash on books followed by its global presence. Example – TCS has cash on books of INR 53,000 crores (~5% of Market Cap)


Healthcare & PharmaceuticalsThis pandemic has made the entire world realize the need to reimagine supply chains

- Charu Sehgal, Partner & Leader Lifesciences & Healthcare, Deloitte

• Globally Pharmaceuticals as a sector, has been in limelight since a while mainly due to events relating to Drug and vaccine discovery for Covid-19.

• However it is pertinent to not that, India has been a major player in the Generic medicine world in terms of cost, quality, manufacturing size and scale.

• A pharmaceutical industry is broadly divided in API and formulations. Under the API segment, high dependence China was a worry where Indian companies are gradually making there space. In fact, most companies have a dependence of between as low as 20 per cent but as high as 80 per cent.

• The recent Govt of India has announcement in April 2020, of INR 10000 crore of investments to incentivize production of APIs in India, is a first sign of things changing in India


F11 J O F12 J O F13 J O F14 J O F15 J O F16 J O F17 J O F18 J O F19 J O

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1-Ipca Laboratories Ltd. - 09/10/20 F7Net

Monthly


Consolidation/ Base formation

Consolidation after breakout

Start of fresh up move


N M12 J N M13 J N M14 J N M15 J N M16 J N M17 J N M18 J N M19 J N M20 J

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1-Ipca Laboratories Ltd. - 09/10/20 F7Net

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A J O J16 A J O J17 A J O J18 A J O J19 A J O J20 A J O

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1-Granules India Limited - 09/10/20 F7Net

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Consolidation at breakout level

Pick up in volumes and then breakout on high volumes


A J O J16 A J O J17 A J O J18 A J O J19 A J O J20 A J O

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1-Granules India Limited - 09/10/20 F7Net

Monthly


Consolidation at breakout level

Pick up in volumes and then breakout on high volumes


➢ Good Business – Pricing power & Competition, Sectoral Tailwind, Entry Barrier, Brand, Reputation Government Dependency, Industry Size, Innovation, Strategic Assets

➢ Good Management – High Corporate Governance, Strong Parentage, Promoter Holding, Focus of Management (Z,E), Pledge

➢ Political Connection

➢ Capital Intensity and Capital Efficiency of Industry

➢ Debt Levels – Avoid highly leveraged B/S, Low interest coverage ratio

➢ Increasing working capital cycle is concern, Cash conversion cycle

➢ Operating profit to convert into Cash Flow from Operations (50%)

➢ Consistency in Revenue, EBITDA and PAT growth

➢ Good reasonable ROC and ROCE

➢ ROCE (10 year G-Sec Yield + Long term Equity Premium) > 15%

➢ Ten year cycle – Upcycle Downcycle

➢ Sector tailwind

➢ Revenue growth 10% for a decade, nominal GDP growth 14.5%.

➢ ROCE – EBIT/Capital Employed (ROCE > WACC)

➢ CAGR in Auditor renumeration vs CAGR in consolidated Revenue

Fundamentals


Recent

Case Studies


Reliance Industries

➢ Cash cow businesses Refining and Petchem remain strong

➢ Petchem capex nearing completion

➢ New businesses Retail and Telecom to drive growth

➢ Retail business in place

➢ Jio in free trail period and crosses 100 million subscribers, soon to start billing


Reliance Industries

S J08 M S J09 M S J10 M S J11 M S J12 M S J13 M S J14 M S J15 M S J16 M S J17

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1-Reliance Industries Ltd - 12/12/19 F7

Monthly

QtyLine

Multi year consolidation8 years

Symmetrical Triangle Pattern

600

Higher volumes on up move


Reliance Industries

J D M08 O M09 A J10 J N A11 S F12 J D M13 O M14 A J15 J N A16 S F17 J D M18 O M19 A

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1-Reliance Industries Ltd - 12/12/19 F7

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194% in 33 months


Mutual Fund Industry

➢ Indian MF AUM as a share of GDP (11%) remains significantly lower than the world average of 62%

➢ Indian Mutual Fund has grown at CAGR of 17.4% over last 10 years, which is only second to China and twice ofGlobal AUM. India is 7th largest economy in the world, yet ranks 17th in terms of Mutual Fund AUM.

➢ Indian household savings as a percentage of GDP have declined over the recent past, RBI data indicate thathouseholds are moving higher shares of their savings to financial assets

➢ Within financial assets, the share of non-bank deposit instruments like mutual funds and insurance are on therise. Traditional physical savings avenues real estate and Gold have given stagnating or falling returns asopposed to higher returns in equity and debt.

➢ Fixed income returns trended down since FY12, hence from Retirement planning perspective MF imperative.

➢ Top 10 funds contributed ~82% to Industry AUM in FY19, showing that scale is crucial for thriving in theindustry. While the industry has seen an increase in the number of mutual fund players, it has also undergoneconsolidation, especially the mid-sized and smaller AMCs.


Mutual Fund Industry

MF industry has witnessed healthy growth with AUM of ~Rs. 25.6 trillion as of end-September 2019; implying~17% CAGR for nearly two decades. From a more recent starting point (FY11) also, overall MF AUM growth hasshown a strong performance with through-the-cycle overall MF AUM CAGR (FY11 - FY19) of 19%.

Mutual Fund Industry AUM GrowthMF AUM to total deposits of Scheduled Commercial Banks


HDFC AMC

➢ Operates as an investment management firm. Offers portfolio management and advisory services to individuals,institutions, trusts, private funds, charitable organizations, and investment companies. HDFC Asset Managementserves customers in India.

➢ HDFC AMC is largest AMC with market share of 14% and AUM of Rs 3.43 lakh cr. Formidable size achieved due tobenefits Parentage/Trusted brand name, strong pan-India distribution network, operational efficiency, focus on thehigher-yield equity segment, and consistent fund performance over the past, led to healthy AUM growth at highlyprofitable levels.

➢ India’s under penetration of mutual funds relative to the world vs. competing areas of bank deposits/insuranceadditionally lends credence to longer-cycle growth from the “financialization” of savings. Company’s business modelchecks most of the investment criteria of a growing and high-ROE business, positive free cash flow and high dividendpayouts.

➢ HDFCAMC’s business is well positioned longer term, benefiting from its leadership position in the industry (andespecially equity) and its status as the most profitable AMC in the industry since 2011.

➢ The superior product mix helps company generate higher yield on AUM. The equity mix of AUM, at 47.7%, continuesto be higher than industry levels of 43.3%

➢ The AMC has been a net beneficiary of a ban on upfront commissions that has resulted in margins movingstructurally up. Further, it has been able to largely pass on all total expense ratio reductions to its distributors


HDFC AMC

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1-HDFC ASSET MANAGEMENT COM - 13/12/19 F7

Daily

QtyLine

1600 Double bottom breakout

1st Bottom

2nd Bottom

Moved 28%from lows

1760

Rs. Crores Mar-18 Mar-19 %

Sales 469 486 4%

Operating Profit 248 357 44%

Other Income 31 61 97%

Deprication 2 3 50%

PBT 277 415 50%

Net Profit 172 276 60%

Quarterly Result


HDFC AMC

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1-HDFC ASSET MANAGEMENT COM - 10/12/19 F7

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118% in 6 months


AFFLE

➢ Affle India Ltd is an ad tech company that helps advertisers drive useracquisition, improve engagement and increase the frequency oftransactions through mobile advertising using its proprietary consumerplatform.

➢ The share of digital ads in media budgets across industries is increasing.Players with scalable end-to-end offerings across the ad-tech valuechain, such as Affle, should be a beneficiary of the internet wave anddigital expansion.

➢ Affle provides end-to-end automated mobile advertising consumer platform, coupled with a cost per converted user (CPCU) model, drives ROI and ensures high client retention and strong network effects.

➢ Filed 14 patents in Singapore and the USA to fortify AI-driven intelligence & automation for conversion-driven marketing with key focus on conversational, vernacular and voice based intelligence.

Profit & Loss

Rs cr FY18 FY19 %

Revenue 167.2 249.4 49%

EBITDA 45.5 70.3 55%

EBIT 37.2 60.2 62%

Profit 27.8 48.8 76%


AFFLE

Key Investors in parent company

Shareholding Pattern

as of Sep 2019

as of Sep 2019

Public shareholding >1%


AFFLE

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1-AFFLE (INDIA) LIMITED - 10/12/19 F7

Daily

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960

Stock has absorbedpost IPO selling andits hit new high

Moved 26%from thelows


AFFLE

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1-AFFLE (INDIA) LIMITED - 10/12/19 F7

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960

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81% in four months


SRF Ltd

➢ A clampdown on chemical manufacturing, tightener pollution control norms and the threat of US tariffs inChina caused disruption

➢ Indian specialty chemicals were the beneficiary

➢ Turnaround in specialty chemicals

➢ Dominant position in the market with largest market share

➢ Market leadership position in Nylon Tyre Cord Fabrics

➢ The company doubled its Hydroflurocarbon capacity to 50,000MT with an investment of INR3,800m


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1-SRF Ltd. - 12/12/19 F7

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Double Bottom

SRF Ltd

High volumesDouble bottom

High volume

1st low

2nd low


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1-SRF Ltd. - 12/12/19 F7

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48% in 9 months

SRF Ltd


“When do you want get diagnosed?”


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1-Maruti Suzuki India Ltd - 13/12/19 F7

Weekly

QtyLine

Maruti Suzuki

10,000

Breakdown confirmation

Reversal signal 8600

8,250

Double Top

COLD

FEVER

cmp 7090


Edelweiss Financial Services

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1 C

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60 L

40 L

20 L

114.50

1-Edelweiss Financial Servi - 13/12/19 F7

Daily

QtyLine

270

Breakdown

Consolidation

Resumption of downtrend

Volumes on declines

Support now acting as Resistance

206

COLDFEVER

ICU

cmp 115


Technical Analysis = Brahmastra

Art of exiting :

Arjun vs Abhimanyu

In Smallcap/high beta/fancy names/ new flavours/topnewsmakers you have to be Arjun not Abhimanyu


Who am I?


Vakrangee

J 17 25 A 10 21 30 S 15 25 O 12 23 31 N 16 24 D 12 20 29 J18 16 24 F 12 21 M 12 20 28 A 17 25 M 14 22

520

500

480

460

440

420

400

380

360

340

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280

260

240

220

200

180

160

140

120

100

80

60

40

20

6 C

5 C

4 C

3 C

2 C

1 C

34.00

2-VAKRANGEE LIMITED - 21/06/19 F7Net

Daily

QtyLine

In uptrend forming high forming higher tops and higher bottoms

364

False HopeFrom low recovery of 15%

High Volumes

Further confirmation

Now less than 10th value cmp 34

High 515


PC Jeweller

25 O 18 31 N 22 D 14 27 J18 18 31 F 23 M 20 A 13 25 M 18 30 J 21 J 13 25 A 17 30 S 25 O

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

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300

280

260

240

220

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180

160

140

120

100

80

60

40

22 C20 C

18 C16 C14 C

12 C10 C8 C

6 C4 C2 C

52.05

2-PC JEWELLER LIMITED - 21/06/19 F7Net

Daily

QtyLine

In uptrend forming high forming higher tops and higher bottoms

Close 364

Intraday From low recovery of 67%

Highest volumes for the stock

cmp 52

High 600


Infibeam Avenues

16 26 A 13 23 M 10 18 28 J 13 21 29 J 17 25 A 10 21 30 S 18 27 O 16 25 N 13 21 30 D

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

50

40

30

20

14 C

12 C

10 C

8 C

6 C

4 C

2 C

45.15

2-INFIBEAM AVENUES LIMITED - 21/06/19 F7Net

Daily

QtyLine

Recovery from 140 to 225. But failed to move above the highs

First signal

cmp 45

High 242


“Avoid falling knives”


Stockholm syndrome


“is when kidnapped falls in love with kidnapper. Holding to dicey stocks where promoter ethics is hazy is exactly the same thing. Averaging it when it crashes is one step ahead – actually marrying the kidnapper”

DHFL

M 21 J 14 27 J 23 A 17 31 S 28 O 26 N 22 D 19 J19 15 28 F 21 M 20 A 16 M 16 29 J

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

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160

140

120

100

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60

40

20

-20

12 C

10 C

8 C

6 C

4 C

2 C

73.20

580.44

680.27

1-DEWAN HOUSING FINANCE - 21/06/19 F7

Daily


580

60% recovery from low of 274 to 438 next day

Consolidation

Huge Volumes on declines

Breakdown from consolidation

680

False Hope

New low

New lowNew low


Yes Bank

J 18 A 16 31 S 28 O 30 N 27 D 26 J18 23 F 22 M 23 A 24 M 23 J 20 J 18 A 16 31 S O 17 N 16 D 17 J19 15 29 F 26 M 28 A 30 M 29 J

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

25 C

20 C

15 C

10 C

5 C

109.60

285.05

382.97

1-YES BANK LIMITED - 21/06/19 F7

Daily


383

Gap down open at 285

Consolidation 285

Breakout

Again reversal from breakdown level

Breakout failure and Gap down opening at 343

COLD

FEVERICU

Gap down open at 213


Unsung Heroes

Less Pattern Great Return


Pfizer – Strong Parentage/Trusted Brand


D J01 F02 S A03 N J04 J05 A M06 O M07 D J08 F09 S A10 N J11 J12 A M13 O M14 D J15 F16 S A17 N J18 J19

4 T

3900

3800

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

3264.55

2-Pfizer Ltd. - 21/06/19 F7Net

Monthly

Higher Tops and Higher Bottoms

Honeywell Automation - Strong Parentage/Trusted Brand


S F08 J D M09 O M10 A J11 J N A12 S F13 J D M14 O M15 A J16 J N A17 S F18 J D M19

29 T

28 T

27 T

26 T

25 T

24 T

23 T

22 T

21 T

20 T

19 T

18 T

17 T

16 T

15 T

14 T

13 T

12 T

11 T

10 T

9 T

8 T

7 T

6 T

5 T

4 T

3 T

2 T

1 T

24658.60

2-Honeywell Auto India Ltd. - 21/06/19 F7Net

Monthly


Gillette India – Strong Parentage/Trusted Brand


J J05 J J06 J J07 J J08 J J09 J J10 J J11 J J12 J J13 J J14 J J15 J J16 J J17 J J18 J J19

8200

8 T

7800

7600

7400

7200

7 T

6800

6600

6400

6200

6 T

5800

5600

5400

5200

5 T

4800

4600

4400

4200

4 T

3800

3600

3400

3200

3 T

2800

2600

2400

2200

2 T

1800

1600

1400

1200

1 T

800

600

400

200

7450.65

2-Gillette India Ltd. - 21/06/19 F7Net

Monthly


HDFC Bank


F05 A F06 A F07 A F08 A F09 A F10 A F11 A F12 A F13 A F14 A F15 A F16 A F17 A F18 A F19

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

2414.20

2-HDFC Bank Ltd. - 21/06/19 F7Net

Monthly


10 Years: 19.74% 10 Years: 25.12% 10 Years: 18.08%



TTM: 23.34% TTM: 20.54% Last Year: 16.50%

Compounded Revenue Growth Compounded Profit Growth Return on Equity

Bajaj Finance


J08 J N A09 S F10 J D M11 O M12 A J13 J N A14 S F15 J D M16 O M17 A J18 J N A19

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

-100

3565.85

2-BAJAJ FINANCE LIMITED - 21/06/19 F7Net

Monthly





TTM: 37.56% TTM: 56.58% Last Year: 20.27%

Compounded Revenue Growth Compounded Profit Growth Return on Equity

Lower Price + Higher Attraction orHigher Price + Lower Attraction


RCOM, JP Associates, Suzlon, South Indian BankOrAarti Industries, 3M India, Godrej Properties


Past Heroes, not necessarily current heroes….


Reliance Infra

A01 N J02 J03 A M04 O M05 D J06 F07 S A08 N J09 J10 A M11 O M12 D J13 F14 S A15 N J16 J17 A M18 O M19

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

60 C

50 C

40 C

30 C

20 C

10 C

57.50

2-Reliance Infrastructu Ltd - 21/06/19 F7Net

Monthly

QtyLine

High 2641Jan, 2008

4x from low

Double from low


Unitech

J O F04 J O F05 J O F06 J O F07 J O F08 J O F09 J O F10 J O F11 J O F12 J

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

-20

180 C

160 C

140 C

120 C

100 C

80 C

60 C

40 C

20 C

1.00

2-UNITECH LTD - 21/06/19 F7Net

Monthly

QtyLine

Cmp 1

High 547Jan, 2008

5x from low


Dating vs Marriage


• HEG

• Escorts.. Testing


Let’s Date…

• HEG



800%

HEG 2013 2014 2015 2016 2017

Sales 1,623 1,467 1,233 870 860

Operating Profit (Rs. Crore) 238 221 182 136 81

ROE % 12.3 9.4 4.1 -1.6 -5.7

PBDIT Margin % 18.9% 18.3% 16.7% 15.5% 10.2%

• HEG



Let’s Date…

More than 5 year consolidation

Breakout190

• HEG



No more date… I’m serious!

315%

ESCORTS 2012 2014 2015 2016 2017

Sales 3,894 6,292 3,986 3,367 4,094

Operating Profit (Rs. Crore) 182 385 41 147 272

ROE % 4.4 13.6 4.2 4.9 8.1

PBDIT Margin % 5.9% 7.4% 5.6% 6.3% 9.0%

• Page Industries

• Britannia

• KEC


You are the best!!

17000Breakout

High volume



Thank You


Documents

Technical Smart Money Fundamentals Psychology Analysis · 2020. 10. 10. · Bullish Patterns: Rounding bottom, Multi year breakout, Double Bottom, Inverted Head & Shoulders Pattern,