Chart Idea – Bliss GVS Pharma
Bliss GVS primarily develops, manufactures, and markets products across various therapeutic categories including Anti-fungal, Contraceptive, Laxative, Anti-haemorrhoidal, Anti-spasmodic, Anti-malarial, Anti-biotic, Anti-microbial, Anti-inflammatory, Antipyretic, Analgesic, and several others
Technically, the stock is forming a triple bottom kind of structure as far as the weekly chart is concerned. It has a moil correction and found supports near its previous demand zone. The stock has shown multiple rejections from 80 levels. Oscillator Relative Strength Index (RSI), showing a rebound from oversold levels and edging higher. A big green candle on the charts at support levels shows the strength of the bulls. An increase in volume and positive diversion from oscillators indicate that it can move higher from current levels.
For the fundamental front of the company is concerned, mutual funds have increased their holding in the past month. The company has seen growth in Net Profit with Increasing Profit Margin(QoQ). Company has a strong cash-generating ability from the core business and also improving cash flow from operation for the last 2 years.
Our advice is to accumulate this stock between 100—115 zone. With the stop loss of 75 on a closing basis and the respected target seems 150—190 in the coming weeks.
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