Profile -
Astral Poly Technik is engaged in the production of plastic products. The company and its subsidiaries are engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions
Market News & Views -
The Indian Plastic Pipe Industry is likely to grow faster, driven by government' s initiatives like - Housing for All by 2022, Nal Se Jal by 2024, Project Amrut & Swachh Bharat Mission. Also, the current bans imposed on Chinese Plastic Products will add to the demand of Indian Plastic products Manufacturers. The 3rd part of the 5 part Stimulus Package annouced by government for Agri & Housing Sector is likely to beefit the PVC Pipes segment. Most of the leading Broking Houses are receommending to buy Astral with a investment horizon of 2 yrs.
Technical View -
The stock is forming a Triangle breakout on the upside with 100 DMA coinciding right at the breakout points. The Stock has managed to close above the Triangle and 100 DMA for last 2 days which is a positive sign. For Short term Traders, the trade is to buy with a stop loss of 930 for a target of 1060 and 1150. Positional Investors can buy this stock in trunches on every decline till 800 levels.
Astral Poly Technik is engaged in the production of plastic products. The company and its subsidiaries are engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions
Market News & Views -
The Indian Plastic Pipe Industry is likely to grow faster, driven by government' s initiatives like - Housing for All by 2022, Nal Se Jal by 2024, Project Amrut & Swachh Bharat Mission. Also, the current bans imposed on Chinese Plastic Products will add to the demand of Indian Plastic products Manufacturers. The 3rd part of the 5 part Stimulus Package annouced by government for Agri & Housing Sector is likely to beefit the PVC Pipes segment. Most of the leading Broking Houses are receommending to buy Astral with a investment horizon of 2 yrs.
Technical View -
The stock is forming a Triangle breakout on the upside with 100 DMA coinciding right at the breakout points. The Stock has managed to close above the Triangle and 100 DMA for last 2 days which is a positive sign. For Short term Traders, the trade is to buy with a stop loss of 930 for a target of 1060 and 1150. Positional Investors can buy this stock in trunches on every decline till 800 levels.