Khaitan Chemicals and Fertilizers Limited | Elliot Wave Analysis
Khaitan Chemicals and Fertilizers Limited is engaged in the manufacturing of Single Super Phosphate Fertilisers, Sulphuric Acid and its variants, Processing of Oil Seed and selling of Wind Power. The Company has India’s largest Single Super Phosphate (SSP) production capacity and SBI has released 37,995,680 (39.17%) pledged shares of the promoters in Dec 2021 as the promoters have prepaid the entire term loan due. (Source: NSE)
(p/e = 14.5; mcap = Rs 1128 cr; roce = 19.1%; roe = 15.3%; promoter holder = 74.99%)
The technical analysis based on Elliot Wave Theory:
Impulse Wave: The first wave (i) was from Rs 20 to Rs 81 in uptrend and with EMA 21 support.
The third wave (iii) was from Rs 66 to Rs 118 and equivalent to 1.618 (fib level) of (i) wave.
Correction Wave: The second wave (ii) was a correction wave from Rs 81 to Rs 51 i.e., retrenchment to fib level 0.50 of (i) wave. The was consolidation in descending triangle and given breakout as mention in chart.
The fourth wave (iv) was from Rs 118 to Rs 90 and equivalent to (ii) wave. The consolidated and given a falling wedge breakout (entry level) as mentioned in chart.
The fifth wave (v) in an impulse wave and target will range from Rs 180 – 200.
Note: The others factors considered was moving average, volume and multiple chart pattern
Thanks
(p/e = 14.5; mcap = Rs 1128 cr; roce = 19.1%; roe = 15.3%; promoter holder = 74.99%)
The technical analysis based on Elliot Wave Theory:
Impulse Wave: The first wave (i) was from Rs 20 to Rs 81 in uptrend and with EMA 21 support.
The third wave (iii) was from Rs 66 to Rs 118 and equivalent to 1.618 (fib level) of (i) wave.
Correction Wave: The second wave (ii) was a correction wave from Rs 81 to Rs 51 i.e., retrenchment to fib level 0.50 of (i) wave. The was consolidation in descending triangle and given breakout as mention in chart.
The fourth wave (iv) was from Rs 118 to Rs 90 and equivalent to (ii) wave. The consolidated and given a falling wedge breakout (entry level) as mentioned in chart.
The fifth wave (v) in an impulse wave and target will range from Rs 180 – 200.
Note: The others factors considered was moving average, volume and multiple chart pattern
Thanks
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