GOA CARBON LTD
FINANCIAL DATA
SECTOR: -- Petrochemical Company--manufacturer of Calcined
Petroleum Coke,It is used to make anodes for the aluminium, steel and titanium
smelting industry.
F.Y-2022-23 MAR-2023 Qtr JUNE-2023 Qtr
Sales:-
1364.36Cr
316.03cr
382.17cr
Net Profit:-
80.75cr
5.29cr 12.59cr
E.P.S:- 88.24 5.78 13.76
Cash-E.P.S:-
90.63
6.38 14.40
O.P.M:- 11.48 6.84 7.11
N.P.M:- 5.92 1.67 3.29
Equity: - 9.15 cr,Face Value:-10,Book Value:-203.28,
Price/Book:-2.56,Dividend Yield:-3.36,Share Holding Pattern:- Promoters—59.72% & Public---40.28%, Market Cap:-476cr.
TTM (E.P.S):-86.17(+51.24), TTM (PE):-6.04, Sector (PE):--14.29
Data Source: - www.bseindia.com & www.moneycontol.com.
All-Time High:--1215 made on 15.1.2018.
All-Time Low: -- 36.60 made on 28.11.2008.
Recent Low:-108.60 made on 26.3.2020.
Open-526.75--High-529.95--Low-517—Close-520.45 on 25.8.2023.
Support:517.25/498.60/486/473.95/457.60/452.40/434/414.45/405/388/370/320.
Resistance:526/536.40/542.40/573.60/585.95/614.85/619/624.40/661.80/682.80/761.10/783/790.05/874/954/994/1034/1079/1215.
(Bold and underlined figures are most important)
It made its all-time high of 1215 on 15.1.2018 and thereafter it corrected with in between relief rallies and made a final bottom of 108.60 on 26.3.2020. The correction lasted for 5 years & 2 months, which is a long period. Please note that it made bottom at 108.60 but it gave confirmation of bottoming out at 199.30 on 28.9.2020 and since then it has been consolidating and steadily moving up with intermittent correction from time to time. Therefore looking at the overall technical chart setup now, it seems that it has bottomed out for good long time back and may be heading for a moderate to big rise in coming months/years provide it moves above its critical resistance points as mentioned below and sustain. It may take some time to catch up the strong up momentum. The trend is up.
Moving down from here it has strong and critical supports points at 498.60---457.60—452.40---405---388---370---343. Please note that if it has the strength then going down it should not break 457.60 & 452.40 on the closing basis and if it breaks it then the last potential support range would be at 388---370---343(figure may change) and as long as it hold 388 & 370 chances of up move will be alive and finally break below 343 will severely threaten the long term uptrend.
Similarly moving up it will face strong resistance at 526---544.05---585.95---619---682.80 (thereafter see the resistance points mentioned above) if it closes above 526 and sustain then it will gain strength and it may pick up good up momentum once it moves above 585.95 and sustain on the closing basis but the real upside fireworks may begin once it closes above 682.80 and sustain.
In view of the above observation, it is suggested that investors can accumulate the stock now and on the decline at appropriate support points and for very short term and risk averse investors the stop loss would be 490 as of now, for 6-8 months time frame investors stop loss would be 445 and for 15—24 time frame investors the stop loss would be 360. I once again reiterate that if it has the strength then it should not break 452.40 on the closing basis. It has good upside potential and can give 50% return in 6-8 months and it could double from here or more in a time frame of 15--18 months.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.
Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
Note: Price stated here are of spot market.
Contact me for strategic guidance to enter and exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
