$TITAGARH - BUY at Correction ~720. Start Accumulating at 850

8 thg 2

TITAGARH is showing correction trend after a strong run. 50% Fibo takes it to 720 - at that price the PE (2024 earning) will be 24 - great buy for Indian railway and could go there by summer '24. However it should visit 850 level in the coming weeks before rebounding a bit - likely by March. I would start accumulating at that level in case bull wind is too strong and 720 correction never arrived. Even at 850 the forward PE is below 30 - a great buy based on current railway stocks comps.