Timken India is a well established MNC. Fundamentally sound n rewarding shareholders.
On technical charts, it appears that the price action is getting squeezed between two trend lines. Price very near to All Time High, just ~5% below it. The squeeze is such tight that whenever there's a Breakout on upside, it will be so rewarding to shareholders.
My take- Buy above 1260 with SL of 1160 on monthly close basis.
Disc.- I hold this stock..
Time has come for this scrip to perform in the bull market which it was lagging compared to others.
On technical charts, it appears that the price action is getting squeezed between two trend lines. Price very near to All Time High, just ~5% below it. The squeeze is such tight that whenever there's a Breakout on upside, it will be so rewarding to shareholders.
My take- Buy above 1260 with SL of 1160 on monthly close basis.
Disc.- I hold this stock..
Time has come for this scrip to perform in the bull market which it was lagging compared to others.