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Autoancillary

Sharda Motor for 80% jump after correctionSharda Motor Industries on daily chart seems to be in Wave IV that began on 9th July’24 and likely to come down to 2000-2050 levels as seen in the chart. This consolidation can go on for a few months. Thereafter, the stock shall move up as Wave V (in five smaller waves) towards 3700+ levels (a 80% jump over corrected price), also marked in the chart. The stock has been a favourite for institutions in recent times. The above analysis is our view on the stock and in no way a trade recommendation. Please do your own due diligence and analysis. Please share your views through comments.
NSE:SHARDAMOTRLong
by DhandhaPaani
Breakout with huge Volume || This auto stock is ready to fly Hello everyone, i hope you all will be doing good in your trading and your life as well. I have brought an auto ancillary stock which has given a breakout with huge volume addition on chart, this type of structure usually supports breakout. MACD and RSI also giving bullish crossover, price is above 200-DEMA. All this indicating bullish moment in this stock. Market Position:- Company is India’s largest manufacturer and exporter of auto components and amongst the leading manufacturers of industrial components. It also manufactures critical components for wind, hydro and nuclear applications; provides critical components for defense and aerospace. Market Cap ₹ 66,996 Cr. Current Price ₹ 1,439 High / Low ₹ 1,474 / 753 Stock P/E 73.0 Book Value ₹ 154 Dividend Yield 0.50 % ROCE 13.3 % ROE 13.2 % Face Value ₹ 2.00 Industry PE 30.2 Debt ₹ 7,948 Cr. EPS ₹ 20.4 Promoter holding 45.2 % Intrinsic Value ₹ 329 Pledged percentage 0.00 % EVEBITDA 26.2 Change in Prom Hold 0.00 % Profit Var 5Yrs -2.05 % Sales growth 5Years 9.10 % Return over 5years 25.9 % Debt to equity 1.11 Net profit ₹ 910 Cr. ROE 5Yr 9.59 % Profit growth 101 % Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BHARATFORGLong
by TraderRahulPal
Will Motherson Wiring (MSUMI) ride with other auto ancillaries?After NiftyAuto n its stocks saw nice momentum, now with good results in Auto proxy Ancillaries sector, stocks are also performing: Balkrishna Ind, Amara raja, Exide, Uno Minda, JBM Auto, Lumax, Rico auto showing good demand. Now come to MSUMI analysis, why it can give returns? FA: -First of all decent growing QoQ, YoY and overall FY24 growth results for the company. -ROE: 42.4% (highest among top leaders and ROCE: 48% -Debt to equity : 0.15 (low) TA: -DTL BO Anticipation (Down Trend Line Breakout), tested trend line(TL) 6 times. -HLs -VCP in action -Green vol > Red Vol (only concern can be big supply on 17/may but it can taken as final flushing of supplier from TL resistance, if now tested can break easily) -Shakeouts are there (kicking out weak players) -Tight closes with low vol Overall loving the setup if possible will take cheat entry (Cheat : early entry from small base before BO in anticipation of BO)
NSE:MSUMILong
by takmanish007
Jamna auto triangular breakout with volumeAuto Ancillaries sector looking good in weekly timeframe. Smallcap : BANCOINDIA, FIEMIND, SHARDAMOTR, RBL, LUMAXTECH, JAMNAAUTO Midcap : SHRIPISTON, SANSERA, ARE&M, ROLEXRINGS, SUPRAJIT Largecap : SONACOMS, UNOMINDA, TIINDIA Jamna auto made a stellar breakout with volume on Feb 26. It's evident on Mar 11, despite selling, buyers pushed the stock leaving long lower wick showing bullishness. Height of the triangle and Fib retracement gives the target as 161. Pivot R3 also points to 161. Strong resistance at 161. Disclaimer: Do your due diligence.
NSE:JAMNAAUTOLong
by naraykln
VARROC ENGINEERING - TREND IS CHANGINGFUNDAMENTALS Varroc belongs to auto ancilliary sector. One of the strongest OEM player to ride this bull run on auto sectors. Ready for EV and had rolled out a lot of stuff for 2 wheelers already. Engine Valves, Lighting, Forging, ADAS ; you just name it and they make that. The company is not only catering to Indian markets but have manufacturing setup outside india as well for global business.. One of the key points to note is that Varroc has very low public float around 8%. 75% with promoters, 5% with FIIs, and 12% with DIIs (MFs mainly) While things went bit haywire post 2019 and company's growth went sideways to negative, it looks like they are back on track. The current market cap is just under 8500 Crores (At cmp 555) while the Enterprise Value is value is already above 9600 Crores. PE ratio is on a higher side amongst the peers but that would get adjusted with the expected rise in sales and underlying profits. Cash flows of the company has also significantly improved. Company has been taking initiative to lower down it's debt and its net debt to EBITDA had improved significantly (WALK the TALK). While some business has seen some dip in European markets, the overall order book is very healthy and the results of all the initiatives shall reflect in the financials in next couple of years. TECHNICAL On technical charts it has broken out of 2019-2020 levels which it attempted to touch base in 2022 and recently in Sep/Oct 2023 as well. This attempt on 17 Nov 2023 has successfully cleared the resistance on weekly charts with rising volumes. Another interesting thing is that there was high volume rejection in May 2022 when it peaked around 493 in the month of April 2022; the current price and volume trend has even taken off those rejection levels with ease. 740 is a very very initial trading target (weak below 430) while I look this scrip as a portfolio buy for minimum 2-3 years time frame with targets of 1100 ++ (Weak below 400) PS: From cmp of 555 this could be a doubler or multibagger in making. CLose watch on QoQ performance for next 6 quarters shall reveal a lot about the company.
NSE:VARROCLong
by AAnandAggarwal
Samvardhana Motherson InternationalHello & welcome to this analysis A rank outperformer from its listing back in 1999, stock has a history of doing deeper retracements and then following it with much stronger rallies. Currently in the monthly time frame its forming a cup & handle pattern that suggests accumulation for yet another strong upside. However, in the short term it could see a dip if current support levels are broken. Overall a strong stock in lower time frame consolidation/correction. Happy Investing
NSE:MOTHERSON
by Dinesh_C_Nagpal
2
PRICOL | Retest Support Candidate after ATH BO |Buy for 60%NSE:PRICOLLTD Pullback candidate to retest support after Multi-Year Cup & Handle Bottom Breakout Stock making Consistent Higher High & Higher Lows Consistent Buying in last 12 months Did not fall in recent correction of Dec'21 & Jan'22 signals strength & potential new market leader Buy on any correction B/w 125-110 Return Potential : 60%(Min) Targets : 146 - 156 - 173 - 186 SL : 100 Golden Cross Over Monthly & Weekly RSI>60
NSE:PRICOLLTDLong
by manuvsingh