Excellent cup and handle pattern

# As visibile from pattern drawn on weekly chart, there is a strong possibility of stock getting doubled from current levels.
# Daawat basmati rice of diffenent varities are competing neck to neck with India Gate and command a majority market share in basmati rice exports.
# The company is leading the industry growth rate with 5 year sales growth of 11% while KRBL grew by only 6%.
# The recent move by govt to tax broken rice could potentially increase the rates of basmati rice which will help the company in better realization.
# With around 12/- expected eps in FY-23, the stock @ 90 is trading at 7.5 times current year earning.
# Since co is gaining market share and Daawat is emerging as a strong brand it is likely improve its return ratios in coming years and hence valuation should improve. a 5 year median pe of 8x seems quite low for the company that is leading industry growth. Hence I would like to bet on the company's rerating towards 15 PE multiple by May 2023 which translates into a price of 180 per share.
# The downside seems protected as long as there is no ban on basmati exports with floor somewhere around 80 which translates into a pe of around 6.5 times on forward eps.