Mukand Ltd. a Bajaj Group company is an interesting stock to keep under radar with following
FUNDAMENTALS
1. Company has reduced debt.
2. Debtor days have improved from 46.1 to 30.4 days.
3. Company's working capital requirements have reduced from 143 days to 101 days
Techincals.
1. RSI on daily and Monthly above 60
2. ABCD Pattern under formation on weekly chart
3. Big Green Marubozu candles on weekly / daily charts supported by large and rising volume
4. Super trend turned bullish on weekly chart
Good Risk reward with buy and buy on dips with major support near 165-175 zone and for next resistance near 205-215-240 zones
Lets see how it evovles
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
FUNDAMENTALS
1. Company has reduced debt.
2. Debtor days have improved from 46.1 to 30.4 days.
3. Company's working capital requirements have reduced from 143 days to 101 days
Techincals.
1. RSI on daily and Monthly above 60
2. ABCD Pattern under formation on weekly chart
3. Big Green Marubozu candles on weekly / daily charts supported by large and rising volume
4. Super trend turned bullish on weekly chart
Good Risk reward with buy and buy on dips with major support near 165-175 zone and for next resistance near 205-215-240 zones
Lets see how it evovles
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.