On the business front :
Revenue might exceed FY22 (Inflation of the raw material and higher sales volume guidance). However, elevated costs of the raw materials, logistics, and additional depreciation (Ongoing Capex commissioning in this FY) would definitely suppress the profitability (Basis: Latest investor presentation (Link)).
On the price front: Looks weak (Basis – Opinion from charts shown below).
- On the monthly chart (Image-1), CMP (1909) would test 30MMA (1874) in the next week.
- On the weekly chart (Image-2), CMP is way below 30WMA and 30WMA is trending downwards.
- On the daily chart (Image-3), yesterday’s bullishness was completely shadowed by today’s bearishness (the last 2 candles on the right).
Disc – No position as of now.
P.S: Above are just opinions from a novice practitioner for mutual learning.
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