Technical.
*Entry can be initiated if it is closing above 650 level for the day, As it is very close to give multipattern Breakout.
Targets: -
1. 695
2. 765
Stoploss: -
610
Fundamental.
*Stock has given good profit growth of 23.0% CAGR over last 5 years.
*company has increased its net profit from 33cr to 815cr YOY basic in just 10 years.
*Stock is available at 27 PE ratio, which indicates consistence growth.
MY commentary
It is one of India’s largest knitted garment manufacturers with total capacity of 157 million pieces. Two major capex projects worth 750 crore towards garmenting ( 250
crore) and ethanol facility ( 500 crore) expected to be ramped up in FY23E. Recent FTA with Australia to benefit KPR as the region contributes 11% to
sales.
Comment:
Made position at 653 level, currently at profit of 2%. Will wait for targets to hit.
Comment:
First target achieved at 10%🥳. I've booked half of my profits. Now it still looks promising to reach the second target. I will be booking rest once it reaches the second target.
Trade active:
Yesterday, it reached its 2nd target as well. Instead of booking profits, I prefer to add more quantity. Why am I doing this ? So, if you can see the daily timeframe, it has broken out of a broadening channel pattern. A lot of people are considering buying this stock now, but I am still sitting on big profits because I bought it at the bottom, Now even aggregating more.