Thread by @nakulvibhor

A stock for 200% upside potential for investors having patience

detailed anlaysis -on CONFIDENCE PETRO

we caught #stock (shared here too)in june at rs 24 , target 36 achieved and sold but didn't realize its worth

now time to take insights

read full thread for learning purpose

staring with technical analysis

stock has entered wave 3 in weekly chart and wave 1 in monthly chart which shows its upside potential

on daily chart stock has given good closing on thursday with booming 14% and sustaining

moving on to fundamental analysis

the best part is promoter has been increasing stake continuously from 52.7 to 54.16 in last 5 quarters

and moreover reducing pledge from 1.3 to 1.26

these two reasons increased credibility towards management

dividend paying co

adding further company has doubled its reserves in last two years working

now the main part to focus

as attached in pic company has completed first CNG station in kolkata which same is reflecting in assets and further to be from 209 to 338 cr assets

as company would be looking to install more CNG stations over kolkata region which would increase its revenue in upcoming quarters and years

now at cmp of 37, placing fibo as in chart we get target of

85 - 129- 174- 201

targets are realistic , people's patience is not