STOCK DISCOVERY 01-Sep-2021
DELTACORP - DELTA CORPORATION LTD.
FUNDAMENTAL QUICKLOOK
- Revenue was consistent till pre-Covid period and expected to take off post lockdown
- Net Profit was also consistent during pre-Covid period
- Debt to Equity ratio is 0
- Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India.
- The company currently owns and operates casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions.
- The on-line gaming business is set to grow at a rapid speed, so the company may leverage on this.
TECHNICAL VIEW
- Stock is forming a Reverse Head and Shoulder Pattern on Weekly Chart.
- Trend line is expected to break.
- If it crosses 201 and subsequently 225 Level, then it has potential to touch 280 after which we can expect the stock to rally up to 400 mark.
- Currently it has low risk level at 160 below which this setup will be invalid.
- Can be considered for monitoring for few days from now.
TECHNICAL CHART
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