VINATI - LARGER WAVE - BREAKOUT - BULLISH - LONG TERM
Hi Folks,
Vinati organics has been in price as well as time correction since September 2022. Almost, corrected for 2 years and maintained a falling wedge, cooling off RSI on weekly and Monthly timeframes while correcting for almost 700 points.
Fundamentals
Stocks in chemical/speciality chemicals sector are mostly sitting on operational capex with stable Margins, good order book and good PAT figures YOY. PE de rated and cooled down to their MEdian PE as compared to 2021 levels where it zoomed off. Operational leverage is yet to be played and PE expansion might kick in.
Technicals
1. Clear breakout on Weekly timeframe from falling wedge.
2. RSI made higher highs eventually breaking from falling trendline.
3. Overall Structure of larger trend is bullish wherein we are completing wave 4 and ready fro larger wave 5.
4. Price might retest 30 WEMA or consolidate around it but shall continue its upmove.
Not a trade recommendation, please do your own due diligence.
Vinati organics has been in price as well as time correction since September 2022. Almost, corrected for 2 years and maintained a falling wedge, cooling off RSI on weekly and Monthly timeframes while correcting for almost 700 points.
Fundamentals
Stocks in chemical/speciality chemicals sector are mostly sitting on operational capex with stable Margins, good order book and good PAT figures YOY. PE de rated and cooled down to their MEdian PE as compared to 2021 levels where it zoomed off. Operational leverage is yet to be played and PE expansion might kick in.
Technicals
1. Clear breakout on Weekly timeframe from falling wedge.
2. RSI made higher highs eventually breaking from falling trendline.
3. Overall Structure of larger trend is bullish wherein we are completing wave 4 and ready fro larger wave 5.
4. Price might retest 30 WEMA or consolidate around it but shall continue its upmove.
Not a trade recommendation, please do your own due diligence.
Trade active:
Confirmed impulse, sustained very well after breakout.