11579 Triangle breakout possible above 6800

Reason for long
a) Long above 6800 confirmation for triangle breakout
b) Consolidation breakout possible
c) Lower high formation
d) SL compulsory

Fundamentals
a) Promoter holding > 70 AND
b) Change in FII holding > 1%
c) Company is almost debt free.
d) Stock is trading at 1.09 times its book value
e) Company is expected to give good quarter
f) Company has delivered good profit growth of 23.5% CAGR over last 5 years
f) Company has been maintaining a healthy dividend payout of 87.7%

Challenge is PE (84) is greater than industrial average 20