Deep Discounted Stock: Prince Pipes
Prince Pipes has been in strong correction mode for the past 4 months.
Prince Pipes is trading near the 3.6-year support zone of 410.
The stock has corrected ~50 percent from all-time highs of 897 levels.
The stock price is trading above the important support zone of 410 levels.
Pros
Can consider to short-term to long-term.
Resistance levels: 521, 578, 680, 755
Support levels: 410, 379
Prince Pipes is trading near the 3.6-year support zone of 410.
The stock has corrected ~50 percent from all-time highs of 897 levels.
The stock price is trading above the important support zone of 410 levels.
Pros
- Spending by the government on housing and infrastructure may enhance volumes.
- Greater probability of imposition of anti-dumping tariff on PVC resin imports.
- The capital expenditure projection for FY25 is set at Rs 330-350 crores.
Can consider to short-term to long-term.
Resistance levels: 521, 578, 680, 755
Support levels: 410, 379
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