OM Infra LTD. Retesting a Multi Decadal Resistance
Here on the chart you can observe a few things :
- Previous resistance of almost 20 years became support for the stock.
- It broke previous resistance of 160 after taking sometime & now retesting the same (Concept of polarity)
- Whenever a stock breaks its multi decadal resistance, highly likely that can become a multi-bagger stock!!
- A fundamentally reasonable valuation company.
- Sectoral tailwinds in the sector in which company operates.
Risk :
- Dependent on Govt. orders.
- Competition from Big players like JSW, TATA, Torrent Power.
- Previous resistance of almost 20 years became support for the stock.
- It broke previous resistance of 160 after taking sometime & now retesting the same (Concept of polarity)
- Whenever a stock breaks its multi decadal resistance, highly likely that can become a multi-bagger stock!!
- A fundamentally reasonable valuation company.
- Sectoral tailwinds in the sector in which company operates.
Risk :
- Dependent on Govt. orders.
- Competition from Big players like JSW, TATA, Torrent Power.
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