RDY: Top candidate to go long indian shares...
RDY has a very strong monthly trend that is currently active, and also a strong daily chart, showing a trend is now active. We can go long risking a fall under the red line on chart, if aggressive, following the daily signal but aiming to capture the monthly trend as well. This would be a huge reward to risk position if it were to pan out favorably for us.I see the
INRUSD chart as significantly strong, and similar to the period from 2016 to 2018, and RDY has a good valuation here, as well as substantial growth potential going forward. Free cash flow yield is 7.93%, EPS growth is positive in the last quarter and in the last year, and they are not too indebted, the company certainly has good liquidity and sales are steadily albeit modetly growing.Best of luck,
Ivan Labrie.
Note
On track.Trade closed manually
Target hit...Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.