BOROSIL RENEWABLES Triangle Pattern• CMP: ₹490| Stop Loss: ₹520|
Target:*440 | ₹440
DISCLAIMER: I am NOT a SEBI registered
advisor or a financial adviser. All the views are for educational purpose only.
Borosilrenewableslong
Borosil Renewables Trend AnalysisThe only small cap company engaged in the business of manufacturing of extra clear patterned glass and
Low Iron Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses.
Current capacity is 750 TPD which will be expanded to 2400 TPD by Q3 of 2024.
India's solar energy capacity has grown with a CAGR of 41.39% from 6.76 GW in 2016 to an impressive 54 GW in 2022.
The target for Solar has since been raised to install 250 to 300 GW by 2030 indicating huge potential.
Technically bearish as the price is moving inside an ending diagonal.
Bearish divergence with RSI indicating bearish continuation.
Good to accumulate around 320-350 levels for the following targets:
Short term swing target @ 575 (74% ROI)
Medium term swing target @ 750 (127% ROI)
Long term positional target @ 1330 (300% ROI) 2 years holding period.
Do your own due diligence before taking any action.
Peace!!
