BSL is looking extremely interesting on the long and short term charts. There has been serious built-up of momentum in the long term charts and most encouragingly its coming on back of some very big volumes and moving averages cross-over. Infact the last seven week volumes is greater than the entire previous year’s volumes and hence this volume backed breakout gives a lot of comfort.
In a market where there are dearth of ideas, this branded textiles story is getting all the eyeballs and is being re-rated. What is probably giving market a lot of comfort is the fact this belongs to wealth creating group where other listed companies like HEG, RSWM etc are known wealth creators. Let’s see how the story unfolds because as of now, the story seems to be playing allright, both on the charts and off it.
God Bless !!!