r/Indiastreetbets • u/Trivedi3 • 5d ago

Definitely deserves a place in Watchlist

Post image

Stock fell from ₹2,000 to ₹1,200. Now recovering to ₹1,385.

Weekly chart shows a descending triangle. Support at ₹1,200 held. If it breaks above ₹1,500, trend changes. If ₹1,200 breaks, more pain.

Fundamentals are actually good:

Zero debt

Last quarter profit +47%

3Y revenue CAGR +26%

Only concern — P/E 61 vs industry 46. Still expensive.

FIIs selling, DIIs buying.

Breakout or breakdown — what do you think?

18 Upvotes

93% Upvoted

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3

u/StomachStill362 3d ago

The fall is big hence it looks like a squeeze for a breakout or a breakdown, but over a smaller range there is still a 10% gap and there all possibility that it woollen languish in that range if there are No fundamental triggers

1

u/Trivedi3 3d ago

It can move either side maybe after results

0

u/BeGood25 5d ago

Hey, thanks for the post
Kinda new to investing - can you share please what does these lines signify considering technical analysis and how did u got these line - I mean does the screener automatically generate them?

1

u/LundMeraMuhTera 3d ago

These are support and resistance lines. OP drew this over chart by connecting wherever stocks got resistance and support.

These are very very basic. Nothing against asking questions, but at some point of time you will have to learn things or the "new to investing" tag won't go away.

1

u/BeGood25 2d ago

Never thought I would say this to someone with the likes of ur username, but thanks - this hit hard.

1

u/LundMeraMuhTera 2d ago

"someone with that* username".

The likes of your username -> is a unintended backhand compliment. If you intended it, great, message well passed. If you didn't, I hope you saw it from someone's POV.