Parag Milk Food came up with very good quarterly results. The management always emphasizes on Parag’s image to be seen as an FMCG player rather than a commodity (dairy) player. These results are backed by their increase in sales in higher margin segment such as whey protein, ghee etc. Given such companies record the highest sales in festive season, a good quarter 3 is safe to assume. On the technicals, a VCP pattern is observed and in the recent days, price is mostly consolidating near the 20 EMA (see area highlighted in blue). Whether it breaks out of the VCP pattern or not, only time will tell, but if it does, it is a near a resistance zone (area marked in red).
Disc: Invested from lower levels.
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