The broader outlook clearly validates the support of 200-SMA, presently set at Rs 145-mark. The consolidation breakout from the range of Rs 200-155 in early August has elicited a bullish outlook for the coming months. Also, the positive crossover of 100-SMA with 50-SMA further negates any major drawdown.
Carraro India turning the corner, offers an entry point
The company has in-house design and manufacturing capabilities. However, it historically has a lower operating margin before depreciation and amortisation (Ebitda margin) compared with peers.