Saturday, October 24, 2020

Bharat Forge | Breakout | Potential Share Price Outlook

 

BHARAT FORGE

Stock/Share Price: 485


➽ In this article we will discuss recent development in the StockShare of BHARATFORG in the Stock Market. A 23000 crore market cap company, trading near PE of 95 and book value of 115. Stock has given a fresh upside breakout.

Recent Key Strengths

Company with Zero Promoter Pledge

Strong Momentum: Price above short, medium and long term moving averages

MACD crossed above zero line previous end of day

MFs increased their shareholding last quarter


Recent Weaknesses

Declining profits every quarter for the past 3 quarters

Declining Net Cash Flow : Companies not able to generate net cash

Major fall in TTM Net Profit

Fall in Quarterly Revenue and Net Profit (YoY)


Technical Chart 

finvestonline.com, bharat forge

Stock of BHARATFORG has delivered more than 100 % return in the past 6 months and currently trading in a strong uptrend . Today stock has given a fresh upside breakout and broken the neckline with good buying volume. 

Now fresh long position can be taken in the BHARATFORG stock at current level or in correction for the upside level of 554 in the short term period and  634 in mid term.


Recent Valuation Summary

bharat forge, finvestonline.com


Thanks for your Precious Time.


Finvest Online
Telegram  :  t.me/finvestonline






Disclaime
r- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader,user and company that are mention on this website.We are not SEBI registered financial advisor or analyst.


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