LONG on BIRLACORP for Long term - triangle breakout
BIRLACORP corrected by almost 29% from its 52W high of 1156.55 and took support at the lower side of the triangle formed as seen on daily chart. The scrip has already given a breakout from traingular pattern, but large candles are yet to be seen.
Recommendation: An Entry above 933(close)
Fundamentals:
ICICI MF holds 4.52% and HDFC MF holds 1.1% of their portfolio.
Expected to gain market share from Govt's Infra projects and connectivity projects in Central and Eastern region.
Revenue is increasing QoQ but due to increase in RM prices profit is impacted. Any ease of RM prices will reflect in profitability.
Recommendation: An Entry above 933(close)
Fundamentals:
ICICI MF holds 4.52% and HDFC MF holds 1.1% of their portfolio.
Expected to gain market share from Govt's Infra projects and connectivity projects in Central and Eastern region.
Revenue is increasing QoQ but due to increase in RM prices profit is impacted. Any ease of RM prices will reflect in profitability.
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