TILAKNAGAR INDUSTRIES LTD
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TILAKNAGAR INDUSTRIES- 3 MHTS BREAKOUT WILL IT SUSTAIN ?

Tilaknagar Industries Ltd. is an interesting Breakout on weekly chart to keep in radar

1. RSI in all time frames above 60
2. Price rise with huge volume
3. Three months long consolidation breakout
4. ABCD pattern under formation on weekly chart

FUNDAMENTALLY
Company has reduced debt.
Company has delivered good profit growth of 23.5% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 27.2%

will this breakout Sustain ?
or
Will it fizzle out and continue its consolidation ?

Lets See How it Evolves.

Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.

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