Cup with Handle Pattern Breakout!
Craftsman Automation Limited
Craftsman Automation is a leader in precision manufacturing in diverse fields.
The co. manufactures several components and sub-assemblies on a supply and job-work basis according to client specifications in the automotive, industrial, and engineering segments.
Headquartered in Coimbatore with 12 plants including 10 satellite units across India.
The stock has formed cup with handle pattern in weekly time frame which indicate upside of 3500-3600 in neat term with the stop loss of 2500.
The stock is in strong uptrend and belongs to auto ancillaries which is prime focus with increasing in vehicles demand and growth in economy.
On a valuation front the stock is reasonably valued with the the profit growth of over 19% in 3 years and healthy ROCE of 15% in last 3 years.