Ambika Cotton cmp 1811.30 by Weekly Chart views Support Zone at Ambika Cotton cmp 1811.30 by Weekly Chart views
- Support Zone at 1375 to 1425 Price Band
-Volumes seems to be building up gradually
- Price making new highs above Falling Resistance & Rising Support Trendlines
- Weekly basis Support at 1685 > 1551 > 1425 with Resistance at 1960 > 2085 > 2271
- Bullish Rounding Bottom inclusive of Head & Shoulder patterns both indicative of good upside target
Ambikacotton
Ambika Cotton Mills Ltd | A Trending sectorAmbika Cotton Mills Ltd | A Trending sector
Ambika Cotton Mills is engaged in manufacturing and selling specialty cotton yarn catering to the needs of manufacturers of premium branded shirts and t-shirts. Exports constitute significant portion of the operations. The company operates with total installed spindle capacity of 108288 (Previous Year 108288 Spindles) of compact facility housed in four units and Knitting facility of converting 40,000 Kgs of yarn per day into fabrics.
Market Cap =₹ 1,014 Cr. ROCE=20.7 % ROE=14.5 % Debt to equity=0.00
Promoter holding =50.2 % Profit Var 3Yrs=28.9 % Sales growth 3Years=10.8 %
Return on assets=12.4 %
company s almost debt free and having good sales and profit growth.
chart shows rounding bottom and consolidation period over .
its time to up move in momentum side.
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AMBIKACO - watchout for close above 1900. TGT 2800NSE:AMBIKCO
cmp 1741
watchout for close above 1890/1900
should do well above 1900 for tgt of 2800
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is consistent with your studies.
AMBIKA COTTON Wait and watch levelsAMBIKA COTTON Mills currently at the wait and watch levels.
Broke the support per the chart pattern. Have a wait and watch on it till it decisively crosses the resistance. If doesn't cross then possibility down move .
Volume will be important to watch for any move.
No recommendations, just view.
Ambika Cotton Breakout1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss/(Buy Price-Initial Stop Loss Price)
4. Either sell on initial stop loss hit or when closes below daily supertrend
After increasing quarterly sales by 31% and quarterly profits by 146% NSE:AMBIKCO given a gap up opening and ended near day high after a consolidation of 3 months. Volumes were 10 times higher than average. Buy with a stop below Rs. 2450.
Other Fundamentals: -
1. Main overseas clients are Quannitex Enterprise Corporatio, Pacific Textiles and Winnitex Investment Company
2. Main domestic customers are Arvind Mills, Raymond, Aashima Textiles and Morarjee
3. ACML specializes in manufacturing of premium quality compact and Eli Twist yarn. The company uses extra-long staple cotton in its yarn manufacturing by importing high-quality Giza and Pima cotton from Egypt and the US respectively
4. ACML has an established market leadership position in the industry
5. Borrowings came down to zero since Mar'20
6. Low debtor days of 8
7. FII holdings increased from 0.11 in Sep'21 to 2.30 in Dec'21
8. TTM Sales, OPM and TTM EPS increased hugely
9. Dividend Yield 1.28 % (consistent dividend payer since 2010)
10. Current ratio 9.50, Debt to equity 0.00, Int Coverage 107, FCF to CFO 67.5 %
Ambika cotton mills -Bullish structureAmbika Cotton Mills is engaged in manufacturing and selling speciality cotton yarn catering to the needs of manufacturers of premium branded shirts and t-shirts. Exports constitute significant portion of the operations. The company operates with total installed spindle capacity of 108288 (Previous Year 108288 Spindles) of compact facility housed in four units and Knitting facility of converting 40,000 Kgs of yarn per day into fabrics.
Quarterly updates
Net profit up 177% to rs 29 crore YoY.
Declared 35 rs dividend
Technicals
Cup& handle breakout.
Demand zone - 1200-1240
Possible target:- 1450-1700-1850
Keep Stoploss:- 1070(WC)
Only for educational Purpose
Target 3 (88%) achieved in Ambika Cotton Mill. Target 4 is ON...This is follow-up on Ambika Cotton Mills Limited (ACML). Can check link to related ideas.
Target 3 achieved. More than 88%. Target 4 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Target 1 (42%) achieved in Ambika Cotton. Target 2 is ON...This is follow-up on Ambika Cotton. Can check link to related ideas.
Target 1 achieved. More than 42%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.