There seems to be accumulation going on in this stock…
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if one checks monthly deliveries, price range of 220-235 which was previous swing high, we had high volumes with below 50% delivery volumes.
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Post fall of 35-40% plus, the volumes have dried up and delivery %rages have gone up, averaging 50% plus very month since Nov2022.
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This according to me is accumulation that is happening in this stock.
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The bad news about capex delays, covid, machinery breakdown. geopolitics, Rus-Uk war, textile industry not doing well etc… all seem to be factored in the price now…
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Technically as well stock seems to have bottomed out at Fibo 0.618 levels.
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