Technical Analysis of Aarti Drugs Limited (NSE India) on 28 March 2017

Technical Analysis of Indian Stocks: Aarti Drugs Limited (NSE India) on 28 March 2017

This is no buy/sell recommendation – just a trial to see if Technical Analysis (works to an extent) in NSE – India.

First let us look into the Technicals: Aarti Drugs seems to be reversing on a Double Bottom ~ 566. A Bullish Engulfing Candle on 28 March seems positive – but the wick above suggests some overhead supply. A retracement to ~544 would have been a safer entry point

Prediction: A bullish move could take it to ~615-620 (SL @ 570).

Fundamental Data: With increasing Revenue and Profits, increase in share price could be expected.

Actual in M INR	2014	2015	2016
Sales	9 699	10 943	11 349
Operating income (EBITDA)	1 464	1 690	1 757
Operating profit (EBIT)	1 183	1 380	-
Pre-Tax Profit (EBT)	848	-	953
Net income	617	-	687
P/E ratio	5,20	20,4	15,9
EPS ( INR )	25,5	31,9	28,4
Dividend per Share ( INR )	-	-	6,75
Yield	-	-	1,50%
Reference price ( INR )	132.5	649.9	450.1

Note: Data collected from Internet (I am not sure about the accuracy)