Technical Analysis of Indian Stocks: Welspun India Limited (NSE India) on 27
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: Welspun seemed to be in a
trading range from July ’16 to Feb ’17 (from ~70-90). In early March, it broke
out to 111 but then fell back to around 73.
From 1st Feb, it rose from 73.30 to 97.90 on 10 Feb ’17
on High Volume. After Fibo Retracement on low volume (it also seems like a Flag),
it broke out on High Volume on 24 March ’17. There seems no sign of a re-test!
Prediction: Pattern suggests that it could rise up to ~109. To
be on the safe side, I would say it could reach at least 107 with SL @ 83.40
Fundamental Data: With increasing Revenue and Profits, increase
in share price could be expected.
Actual in M INR
|
2015
|
2016
|
Sales
|
47 229
|
53 877
|
Operating income (EBITDA)
|
12 742
|
15 575
|
Operating profit (EBIT)
|
9 412
|
11 825
|
Pre-Tax Profit (EBT)
|
7 533
|
10 378
|
Net income
|
5 398
|
7 029
|
P/E ratio
|
6,66
|
15,3
|
EPS ( INR )
|
5,38
|
7,00
|
Dividend per Share ( INR )
|
1,05
|
1,30
|
Yield
|
2,93%
|
1,21%
|
Reference price
( INR )
|
35.8
|
107
|
Note: Data collected from Internet (I am not sure about the
accuracy)
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