HUHTAMAKI - Multiyear breakout RetestHuhtamaki India Ltd recently broke a long-term resistance level around ₹360, followed by a consolidation phase just below ₹450.
The stock found strong support near ₹360- ₹370 before bouncing back and entering a sideways consolidation pattern.
There is a visible increase in rising volume, indicating a buildup of buying interest. A potential breakout above the ₹406 mark could lead to further upside.
The next target could be around ₹450-460, while the stop loss should be set around ₹385 to manage risk effectively during the ongoing consolidation.
HUHTAMAKI
#LONG on Huhtamaki India for LongtermHuhtamaki is a consumer packaging company. It's offering includes specialized pouches, pressure sensitive labels, personal care and household, specialized cartons, and automotive and industrial products.
The stock is significantly undervalued as compared to its sector(Containers & Packing).
It's peer Uflex Ltd (a loss making company) commands larger market value (LOL!!!)
It is a Cash flow positive company with a Annual Net Cash Flow of Rs.102 crores(Even the largest company in it's sector has a negative annual cash flow of Rs. 20 crores).
Net profit rose 166.53% QoQ suring June 2024 to Rs 38.54 crore. PAT rose 725% YoY to Rs.410 crores. Revenues remained almost flat during the period.
I believe if the revenue increase in double digits, the profits may multi-fold in future.
HUHTAMAKI - Ichimoku Breakout📈 Stock Name - Huhtamaki India Ltd
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 411.
🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market.
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Swing Trading Opportunity in HUHTAMAKIRefer the chart for Entry,Target and SL.
NOTE: This trade is only for Equity Swing buy and not to be considered for options trading.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action.
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HUHTAMAKIHUHTAMAKI:- Stock has given breakout, but if you want to plan something, wait for retesting because breakout is huge, till then keep an eye
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.