Turning Bullish: Devyani International

Theo shanmurali
The stock is in a volatility contraction zone.
It is currently trading near the key resistance level of 180.
If the 180 levels are broken decisively, we can expect an upward movement toward 200 - 220 levels.
Pros:
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
Outperformer - Devyani International up by 9.27% v/s NIFTY 50 up by 3.44% in last 1 month.
Institutional Investors have increased holdings from 24.64% to 25.87% in Jun 2024 qtr.
Cons:
TTM PE Ratio - High in industry
TTM PEG Ratio - PEG TTM is negative
Verdict:
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
Chart PatternsFundamental AnalysisTechnical Indicators
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