Turning Bullish: Graphite India Ltd
Graphite has recovered nicely from the important support level of 500.
It is just trading below the next resistance of 545.
Key resistances on the upside are 575, 625, and 673 levels.
Key Points to observe:
Net profit has considerably increased from Rs. 16 Cr. in Mar 2024 to Rs. 236 Cr. in Jun 2024
Net cash flow has also increased to Rs. 14 Cr in Mar 2024 When compared to Rs. -45 Cr. in Mar 2023
However, the return on equity has been low 5.24% over the last 3 years.
It can be a good long-term candidate.
It is just trading below the next resistance of 545.
Key resistances on the upside are 575, 625, and 673 levels.
Key Points to observe:
Net profit has considerably increased from Rs. 16 Cr. in Mar 2024 to Rs. 236 Cr. in Jun 2024
Net cash flow has also increased to Rs. 14 Cr in Mar 2024 When compared to Rs. -45 Cr. in Mar 2023
However, the return on equity has been low 5.24% over the last 3 years.
It can be a good long-term candidate.
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