Venus Pipes Rectangular breakout
Venus Pipes weekly MaCD breakout. Daily chart RSI breakout. Very strong fundamental stock.
Comment
Venus Pipes under investigation by Directorate of Revenue Intelligence for alleged customs duty evasion on imported goods. While the full impact of the investigation is yet to be determined, the company has already deposited ₹5 crore as a duty under protest. Company stated that it will not have any material impact on financial operations or other activities of the company.
Hence doesn't look good at technicals, however it's at the bottom of the parallel channel. Added very few quantities.
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