Hindustan Foods is due to announce its results next week.
Fundamentals
YOY it shoud be a blockbuster result. They are a contract manufacturing company. Many top FMCG co's are its clients. It also has recently commissioned a new detergent & shampoo unit for HUL. So that should scale up and add to the numbers for the co from the Q1. (The only lag for me might come in the show business if anything where the manufacture shoes for plenty of players)
Technically the stock as at multiple support levels.
In the last 5 years the stock hasnt closed below the 20EMA on the monthly basis and has always bounced. It is at that level right now
It also is at a key Fibo level
Additionally it is at an old resistance level which should now act like a support.
The being said with results around the corner + being at so many supports and the expectation of a good result I might speculatively go long here but on results day keep a buy order at slightly higher prices so if the result is good i catch the move up.
Fundamentals
YOY it shoud be a blockbuster result. They are a contract manufacturing company. Many top FMCG co's are its clients. It also has recently commissioned a new detergent & shampoo unit for HUL. So that should scale up and add to the numbers for the co from the Q1. (The only lag for me might come in the show business if anything where the manufacture shoes for plenty of players)
Technically the stock as at multiple support levels.
In the last 5 years the stock hasnt closed below the 20EMA on the monthly basis and has always bounced. It is at that level right now
It also is at a key Fibo level
Additionally it is at an old resistance level which should now act like a support.
The being said with results around the corner + being at so many supports and the expectation of a good result I might speculatively go long here but on results day keep a buy order at slightly higher prices so if the result is good i catch the move up.