Ion exchange a mid-cap company engaged in water purification which i picked few months back but it had not done well. I am still holding it in my portfolio. This quarter company posted good set of results.
Ion Exchange Q4 -
Net profit up 18.6 percent at Rs 16.6 crore versus Rs 14 crore (YoY) -Total income up 1.7 percent at Rs 239.2 crore versus Rs 235.2 crore (YoY) -EBITDA up 28.2 percent at Rs 27.7 crore versus Rs 21.6 crore (YoY) -EBITDA margin at 11.6 percent versus 9.2 percent (YoY)
This along with some technical setups looks like going to reward me now.
Ion exchange on weekly charts is looking to break out from triangular pattern. Technical targets of that are just mouth watering 481 and 537. From CMP of 336 that can be 40-60% upside. Although these targets can take time of 1-2 years to come.
Ion exchange on daily charts looking to break out from small consolidation. Technical targets of that comes around 389.Meanwhile 354 previous double tops can act as minor resistance, above which 389 is very much likely.
Disclosure: I am not a SEBI certified analyst. I analyze charts for my trading purpose so i do have all kind of interest in the stock.
Ion Exchange Q4 -
Net profit up 18.6 percent at Rs 16.6 crore versus Rs 14 crore (YoY) -Total income up 1.7 percent at Rs 239.2 crore versus Rs 235.2 crore (YoY) -EBITDA up 28.2 percent at Rs 27.7 crore versus Rs 21.6 crore (YoY) -EBITDA margin at 11.6 percent versus 9.2 percent (YoY)
This along with some technical setups looks like going to reward me now.
Ion exchange on weekly charts is looking to break out from triangular pattern. Technical targets of that are just mouth watering 481 and 537. From CMP of 336 that can be 40-60% upside. Although these targets can take time of 1-2 years to come.
Ion exchange on daily charts looking to break out from small consolidation. Technical targets of that comes around 389.Meanwhile 354 previous double tops can act as minor resistance, above which 389 is very much likely.
Disclosure: I am not a SEBI certified analyst. I analyze charts for my trading purpose so i do have all kind of interest in the stock.
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