Emami Ltd: Potential change of Character, Double/Triple bottom
"Emami Ltd: Potential change of Character, Double/Triple bottom "
Stock: Emami Ltd.
CMP: 622
Sector: FMCG /personal products
Analysis:
Emami Ltd. is showing promising change of character in its downtrend having formed almost complete Double /triple bottom. The stock has corrected almost 27% from its high and currently trading near the previous prce when very high volume activity was shown. Previously in the same zone very high demand zone occured boosting the price to go up.
Key Highlights:
Technical Setup:
- Double Bottom (may also say triple bottom) Formation: Indicates a potential trend reversal.
- RSI looks buliish
- CMP: 622, near to the previous demand zone which had helped jump in prices
Institutional Confidence:
FII/FPI Holdings:increased holdings from 14.02% to 14.38% in Sep 2024 qtr.
Institutional increased holdings from 35.63% to 35.89% in Sep 2024 qtr., reflecting confidence from larger investors.
-Promoters unpledged 3.08% of shares in last quarter. Total pledge stands at 8.15% of promoter holdings. Promoters holding remains unchanged at 54.84% in Sep 2024 qtr
FInancials:
-The company has excellent financials.
Target Levels: The stock is likely to test the next resistance zone at ₹743, offering significant upside potential. Some major analyst have projected price to go upto 790 levels in few months.
Trade Plan:
Entry: Near CMP levels
Target: ₹743 and next may trail upto 790 levels or more
Stop Loss: Below ₹590 for risk management.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
Stock: Emami Ltd.
CMP: 622
Sector: FMCG /personal products
Analysis:
Emami Ltd. is showing promising change of character in its downtrend having formed almost complete Double /triple bottom. The stock has corrected almost 27% from its high and currently trading near the previous prce when very high volume activity was shown. Previously in the same zone very high demand zone occured boosting the price to go up.
Key Highlights:
Technical Setup:
- Double Bottom (may also say triple bottom) Formation: Indicates a potential trend reversal.
- RSI looks buliish
- CMP: 622, near to the previous demand zone which had helped jump in prices
Institutional Confidence:
FII/FPI Holdings:increased holdings from 14.02% to 14.38% in Sep 2024 qtr.
Institutional increased holdings from 35.63% to 35.89% in Sep 2024 qtr., reflecting confidence from larger investors.
-Promoters unpledged 3.08% of shares in last quarter. Total pledge stands at 8.15% of promoter holdings. Promoters holding remains unchanged at 54.84% in Sep 2024 qtr
FInancials:
-The company has excellent financials.
Target Levels: The stock is likely to test the next resistance zone at ₹743, offering significant upside potential. Some major analyst have projected price to go upto 790 levels in few months.
Trade Plan:
Entry: Near CMP levels
Target: ₹743 and next may trail upto 790 levels or more
Stop Loss: Below ₹590 for risk management.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
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