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Welspun Corp could excel in your Investment PortfolioInvestment Advice by Gooodluck Capital (SEBI Registered) Buy Welspun Corp NSE:WELCORP ● Buy Range (1) - CMP (current market price) ● Buy Range (2) - 660 - 665 ● Buy Range (3) - 620 - 630 ● Target - 960 - 970 ● Stoploss - below 500 ● Potential Return - 50 - 52% --------------------------------------- Approx investment period 18 - 24 months Company Overview Welspun Corp Limited manufactures and sells steel pipes, coatings, plates, and coils in the US, Europe, Saudi Arabia, and India. The company offers helically, longitudinally, and electric resistance welded pipes, pig iron and ductile iron pipes, billets, thermo mechanically treated rebars, stainless steel pipes, tubes, and bars. Its products are used in various industries, including oil, gas, water transmission, infrastructure, and defense. The company was incorporated in 1995 and is based in Mumbai, India. Sector - Iron & Steel Technical Analysis (1) In January 2008, the stock faced significant resistance around the 500 level, leading to a substantial price correction. (2) Over time, it established a support base near the 45 level, from which it began to rebound, climbing back towards the 300 level. (3) However, the stock struggled to break past the 300 threshold and eventually retreated to its former support. (4) Following this, it entered an extended phase of consolidation until it finally broke through the 300 level in July 2023. (5) This pivotal moment propelled the stock into strong upward momentum, culminating in a multi-year breakout at the 500 mark after nearly 16 years. (6) Subsequently, the stock not only maintained this breakout level but has also begun to steadily rise. Entry, Target & Stop-loss ● Entry with Capital allocation strategy (1) consider adding 40% of your desired quantity at the current market price. (2) The second buying opportunity will be in the 660-665 range, where you can also add another 40% of your quantity. (3) If the price dips to the 620-630 range, that will present the best buying opportunity. Make sure to reserve 20% of your quantity to take advantage of this level. ● Target Chart analysis indicates a promising upside potential of above 50% for this stock from the current level, with a target around the 960 to 970. There is also a strong likelihood that the stock could exceed this target. ● Stoploss It is crucial to implement a strict stop-loss below the 500 level, as we anticipate that the stock may encounter challenges if it drops to this point. Fundamental Analysis ● Stock Valuation ● (1) Intrinsic Value ➖ The current price-to-earnings ratio for the stock is 14.5. ➖ The median price-to-earnings ratio for the stock over the past year stands at 15.4, while the earnings per share for the trailing twelve months is 45.55. ➖ This leads us to calculate the intrinsic value of the stock as follows: 15.4 * 45.55 is equals to 701.47. ➖ With the current market price hovering around 695, which is below the intrinsic value of 701, it clearly indicates that the stock is considerably undervalued right now. (2) P/B Ratio The present PB ratio for this stock stands at 3.06, indicating a slightly high valuation but not reaching overvalued territory. ● Debt Analysis ● (1) The company's current debt is Rs. 1,949 crore, which is quite minimal compared to its market capitalization of Rs. 17,249 crore. (2) With a debt-to-equity ratio of just 0.35, it’s evident that the debt level is relatively low for this type of capital-intensive business, providing the company with the flexibility to secure additional funding as needed. (3) A glance at the balance sheet reveals a significant reduction in debt, dropping from Rs. 3,381 crore last year to the current Rs. 1,949 crore. ● Revenue Break-up ● (1) Product wise break-up The company generates its revenue through three primary product categories: ➖ HSAW Pipe, which accounts for approximately 76% of the total revenue, ➖ LSAW Pipe, contributing close to 15% of the total revenue, ➖ ERW Pipe, responsible for about 8% of the total revenue. (2) Location wise break-up The company derives approximately 54% of its revenue from India. Additionally, Welspun Corp. operates facilities in the USA and Saudi Arabia, contributing around 8.6% and 34.2% to its overall revenue, respectively. ● Profit & Loss Analysis ● (1) Over the past three years, this stock has achieved an outstanding compounded annual growth rate of 34% in sales. (2) The cumulative profit increase over the past three years has been an impressive 21%, indicating a strong upward trend. (3) The profit margin has seen a significant boost, rising to 9% from 5% YoY. For the fiscal year 2024, the growth in earnings per share is striking, skyrocketing to 42.41 from 7.90 in fiscal year 2023. ● Cash Flow Analysis ● Operating cash flow has seen a remarkable surge, soaring to 1,306 crore from a negative 185 crore in FY23. ● Shareholding Pattern ● (1) As of the June 2024 quarter, the promoters own a notable 50.03% stake in the company. (2) Goldman Sachs possesses a notable 10.51% share in the company, reflecting a slight decline from 10.70% in March 2024. (3) Domestic Institutional Investors (DIIs) have reduced their stakes since the previous quarter, yet they still hold over 9%, which remains quite significant. ● Conclusion ● The steel industry in India is set for expansion, bolstered by new government initiatives. Lower import duties on essential raw materials, combined with heightened public investment in infrastructure and housing, are anticipated to greatly enhance the sector's performance. Therefore, we are excited to see how Welspun Corp will thrive in the near future.
NSE:WELCORPLong
by GoodluckCapital
1
Venkeys - Monthly Chart - Ascending Channel - LongVENKEYS is moving in a clear Ascending Channel with support at the bottom of the channel retested multiple times as shown in the chart. The Price has again bounced after touching the bottom of the channel Key Points: Ascending Channel: The stock has been trading within a well-defined ascending channel for several years. The price recently bounced off the lower boundary, affirming strong support at this level. Key Support Levels: The chart highlights multiple instances where the stock has found strong support at the bottom of the channel, reinforcing the robustness of this upward trend. Each bounce off the lower boundary has led to significant upward movements. Disclosure: Invested at ₹1992.07 Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:VENKEYSLong
by gurinder1988
1
Nifty 50 By KRS ChartsDate: 1st Aug 2024 Time: 9:12 AM What is going on in NIFTY 50 ? 1. As we all know Indian markets in continuously in uptrend in recent times so nifty 50 too. 2. Nifty is recently moving in range but sideways with uptrend as we can see in charts for Hourly timeframe. 3. There are clear supports and Resistances are visible in Nifty 50, Today is open with Gap up and Breaks 25000 level for very first time. 4. Nifty can clearly go for 25226 but also it can reach above bigger Resistance too.
NSE:NIFTYLong
by KRSCharts
NAVIN FLUORINE - Week - Bullish Divergence + Ascending TrendlineNAVIN FLUORINE INT. is displaying promising bullish signals on the weekly chart. The following analysis highlights key technical indicators and potential future movements: Ascending Trendline - The stock is maintaining a strong ascending trendline, bouncing off this support multiple times (green arrows). Bullish Divergence - The price made a lower low in March 2024, but quickly recovered. During the same period, RSI made a higher low, creating a bullish divergence (blue arrows). RSI Analysis - The RSI is currently trending upwards, indicating increasing bullish momentum. The stock is also moving in a clear Ascending Channel on the Monthly timeframe as shown above. Both the Top and Bottom of the channel has been tested multiple times over the years. If you found this analysis helpful, please leave a comment below to share your thoughts or any additional insights you might have. Your input is highly valued and helps us all learn together! Don't forget to Boost this idea if you believe in its potential. Follow me for more in-depth analyses! Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
NSE:NAVINFLUORLong
by gurinder1988
Laxmi Organic - Bullish Divergence and Breakout from TriangleWeekly Chart Insights: Symmetrical Triangle Pattern: Over the past years, Laxmi Organic Industries Ltd has formed a symmetrical triangle. Breakout Confirmation: Recently, the price broke above the upper trendline of the triangle. Retest of Breakout: The price action is retested the breakout at the Trendline and has moved upwards now. Bullish Divergence: Time Period - 26 March to 12th May Lower Low in Price - Price went from 235.2 to 228.5 Higher Low in RSI - RSI went from 37.2 to 37.6 Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
NSE:LXCHEMLong
by gurinder1988
IndoBorax - Fibonacci Targets in sight after Breakout - DailyIndo Borax & Chemical Ltd. has recently broken out cleanly from a descending trendline. The Fibonacci retracement levels provide clear targets for the upcoming price action, making this an interesting setup. Technical Analysis: Descending Trendline Breakout: The stock has decisively broken out from a descending trendline, indicating a shift in momentum from bearish to bullish. Fibonacci Retracement Levels: The Fibonacci retracement levels drawn from the recent high to the low indicate potential resistance and support levels. Key observations include: Support at Fib 1: The price took support at the 1.0 Fibonacci level (₹171.10) post-breakout and bounced off strongly. Resistance at 2.618: The stock faced resistance at the 2.618 Fibonacci level (₹213.59) but has since taken support at the 1.618 level (₹187.33). Potential Target Levels: A daily close above ₹213.59 opens up the 3.618 level (₹239.86), with the previous high acting as another target at ₹232.21. Volume Analysis: The breakout was accompanied by a significant increase in volume. The Volume has spiked again today. Key Levels to Watch: Support: ₹171.10 (1.0 Fibonacci level) and ₹187.33 (1.618 Fibonacci level). Resistance: ₹213.59 (2.618 Fibonacci level) and ₹232.21 (previous high). Bullish Divergence on Weekly On the Weekly chart, you will also notice that there has been a Bullish Divergence where the price made a Lower Low, while RSI made a Higher Low, shortly before the Breakout. The RSI seems to be on an upward trajectory since, as you can see in the chart below. Let me know your thoughts in the comments. Please do Boost and Follow for more analyses! Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:INDOBORAXLong
by gurinder1988
Libas - Potential Bullish Divergence in Descending TriangleLibas Designs Ltd. is currently trading within a descending triangle pattern. A potential bullish divergence between the price action and the RSI could indicate an upcoming trend reversal. Technical Analysis: Descending Triangle Pattern: The stock has been consolidating within a descending triangle pattern, characterized by lower highs and a strong support level around ₹16.5. Lower Low in Price: The price recently made a lower low, near the support level of the triangle. Higher Low in RSI: Simultaneously, the RSI (14) made a higher low, creating a bullish divergence. This suggests that the selling pressure is weakening, despite the price making a new low. Volume Analysis: Volume has been decreasing during the formation of the triangle, which is typical for this pattern and indicates a potential buildup before a breakout. Trade Setup: Entry Point: I would wait for a breakout and retest above the top trendline. Probably somewhere above the 17.5 mark. Stop Loss: A stop loss below ₹16.00, just under the recent support level, to manage risk effectively. Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:LIBASLong
by gurinder1988
Prime Focus NSE By KRS ChartsDate: 11st July 2024 Time: 10:26 AM I have been waiting from this breakout since July 2023. So, Why Exactly Prime Focus? 1.Picture perfect sideways for years and breakout so study is in Monthly TF , which in itself strong point to noted. 2. Two-times already rejected from red zone and 3rd also but this time it Bounce back and breaks trendline again. 3.floating above 100EMA after consolidating for one years near black trendline Great Targets are visible 1st ATH price point 154 Rs 2nd 268 Rs Target for Long to Medium Term
NSE:PFOCUSLong
by KRSCharts
HDFC BANK NSEDATE - 12th March 2024. HDFC Bank has breakout today with good amount of candle size and volume too. Applied Concepts Chart P. - Inverted H&S Positive Order Block from Daily Time Frame and Previous OB of Monthly TF as shown in chart. Only OB is not a good option so here we have applied FVG (Fair Value Gap) also, Price Action has successfully reversed from FVG and gave confirmation for potential upside movement. Targets 1st Target as per Chart P. is 1555 Rs. and Further upside Target as per OB and FVG is 1700+. Thank You! Have a Good Day.
NSE:HDFCBANKLong
by KRSCharts
8
BUDGET 2024: Technical Outlook & Money Flow in Different SectorsNSE IT SECTORS NSE:CNXIT TREND: POSITIVE India IT sector is currently on an upward trend. After a bullish Pole & Flag pattern was spotted on the chart, a breakout occurred leading to a surge in index and the formation of a bullish Pennant pattern. Encountering resistance at the 38,600 level, the IT index underwent a correction and consolidation phase. During this consolidation, a Rounding Bottom pattern emerged, suggesting a potential continuation of the trend. Since the breakout, the index has successfully maintained levels above the breakout point and is steadily climbing higher. NSE FMCG SECTORS NSE:CNXFMCG TREND: POSITIVE The chart shows a strong uptrend. In the past, there was a bullish Pole & Flag pattern formation, resulting in a surge after the breakout. The index faced significant resistance at 58,000, causing a correction and consolidation. A Cup & Handle pattern appeared emerged in the chart, suggesting a potential continuation of the trend. The recent breakout in the cup & handle pattern suggests that the FMCG index has managed to stay above the breakout level and is gradually moving higher. NSE METAL SECTORS NSE:CNXMETAL TREND: NEGATIVE The metal industry underwent a period of consolidation time and again in the past. Reaching a peak near the 10,200 level, the metal index consolidated again, and a recent breakdown suggests a potential downward movement. Looking at the downside, the 8,800 level could serve as a solid support, leading to a possible rebound in the index. NSE MEDIA SECTOR NSE:CNXMEDIA TREND: NEGATIVE A bullish Ascending Triangle pattern was visible in the chart earlier. Instead of breaking upwards, the index experienced a breakdown, marked by a powerful bearish marubozu candle. Furthermore, the support level was breached, leading to a notable decline. The index eventually found support and traded within a box pattern. Following the breakout, the index rallied but encountered resistance at the former support level, now acting as a resistance post-breakdown. It is anticipated that the Media index will continue to decline and potentially find support around the 1,750 level.
NSE:CNXITEducation
by GoodluckCapital
Tanla - Monthly Chart - Ascending Channel - LongTanla Platforms Ltd. has been trading within a well-defined ascending channel for almost 10 years now. The support at the bottom of the channel and the resistance at the top of the channel have been tested many times over the years, as the chart shows. The Price has again bounced after touching the bottom of the channel last month and RSI has a strong upward trajectory. Key Points: Ascending Channel: The stock has maintained an ascending channel for almost a decade, with the price consistently respecting the channel's boundaries. Support at Bottom: The lower boundary of the channel has been tested multiple times and has held strong, indicating robust support. Resistance at Top: The upper boundary of the channel has also been tested multiple times, acting as a reliable resistance level. Recent Bounce: The price recently hit the bottom of the channel last month and bounced off, suggesting a possible continuation towards the upper boundary. Volume Analysis: The volume has shown significant spikes during periods of upward movement, reflecting strong buying interest. RSI: The RSI (14) is currently at 52.98 and trending upwards, indicating growing bullish momentum. The RSI's upward trend further supports a bullish outlook. Disclosure: Invested at 920.00 Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:TANLALong
by gurinder1988
Valiant Organics NSE by KRSChartsDate: 24th April 2024 Time : 10:45 Am Valiant Organics has been in my watchlist for a long time, Finally, it seems like its Wave structure of downfall is finished with March low point. Now in ABC Wave Structure C Wave is likely to reach till Depth of Correction Point which means Prev point of 4th wave is new Target. Apart from this There is a Double Bottom Chart Pattern is visible too with Bullish Div on Monthly TF with RSI. More Confirmation had arise when on 1st April its Gap up and Now showing Positive Order Block on Weekly TF too. SO, with a SL of 394 Rs. (D Closing Basis) we can long Valiant Organics for Target of 860+ Rs. But make sure if you want to little more safe entry it will be above POC line at any price.
NSE:VALIANTORGLong
by KRSCharts
PLASTIBLENDS - Monthly - Ascending Channel - Bullish - LongPlastiblends India Ltd. has shown a strong uptrend within a well-defined ascending channel since 2013. The recent price action suggests a continuation of this trend, presenting a compelling opportunity. Technical Analysis: Ascending Channel: The stock has been trading within an ascending channel for over a decade, demonstrating a consistent pattern of higher highs and higher lows. Support and Resistance: The stock recently bounced off the lower boundary of the channel, a strong support level. The upper boundary of the channel acts as the resistance. Volume Analysis: The volume has shown spikes during uptrends, indicating strong buying interest. RSI Indicator: The RSI (14) is currently at 62.46 and trending upwards, suggesting increasing bullish momentum. The RSI has bounced off from the mid-50 level, a common support in uptrending stocks. Plastiblends India Ltd. is in a robust uptrend within an ascending channel. With strong technical indicators and bullish momentum, this stock presents a favorable risk-reward ratio in my opinion. What are your thoughts? Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:PLASTIBLENLong
by gurinder1988
GTPL - Symmetrical Triangle Breakout with Retest - Bullish LongGTPL Hathway Ltd. (NSE: GTPL) has recently broken out of a symmetrical triangle pattern on the daily chart. The breakout has been followed by a successful retest, indicating a strong bullish signal. A Symmetrical Triangle Breakout would indicate a continuation of prior trend, which is bullish in the long-term, as shown by the Monthly Chart below. I have also given a possible long-term channel for GTPL. The support at the bottom of the channel has been tested multiple times, as shown. We'll have to see if the top also holds but that is a long time away. On the Monthly time-frame, the RSI is also on an upward trajectory, as shown. Please comment with your views on the set-up. Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
NSE:GTPLLong
by gurinder1988
"SEBI's Proposal: A Threat to Small Retail Traders" The Securities and Exchange Board of India (SEBI) has proposed new rules to reduce the high volume of derivatives trading. One of these measures is to increase the minimum trading amount, known as the lot size, to ₹20-30 lakh. This is a concern for small retail traders who make profits, as it will make it difficult for them to trade. However, the same SEBI allowed daily expiries for Nifty options, which has further led to an increase in trading volume. Now, they are proposing to switch back to weekly expiries, which is a good move actually. However, if the lot size is increased, only big players will be able to trade and earn profits, while small retail traders will either have to stop trading or borrow money to trade. But what if most of these traders borrow money and end up making losses again? In that case, this change is not a solution The government claims that these new rules are beneficial for retail traders because many of them are experiencing significant losses. However, I believe this is nonsense. The government previously praised retail traders for participating in the market and even the National Stock Exchange (NSE) considered extending trading hours before. But everyone knows that many retail traders incur losses due to a lack of knowledge about the market and greed. There are numerous social media fake influencers who deceive people by showcasing fabricated profits and promising easy money. These influencers attract individuals who are desperate for an additional source of income due to their low salaries, grueling work hours, or unemployment. These people yearn to earn money quickly without investing excessive time. So Banning influencers who provide false P&L statements : Regulators can take action against influencers who mislead the public by presenting fake trading records, making it difficult for them to continue operating. Implementing a "cooling period" for traders : If a trader consistently incurs losses for six months, their trading account can be temporarily blocked or restricted, giving them time to reassess their investment strategy. Reintroducing traditional expiry methods : reverting back to the old expiration method (instead of daily expiration), the market may become more stable and less prone to excessive trading volumes. By implementing these measures, the government and regulatory bodies can reduce trading volumes in derivatives and protect investors from fraudulent activities. " Finally I respectfully ask SEBI to reconsider their proposal. There are many retail traders who have a good income, but they don't have a lot of money to start with. It's like starting a small business - you usually start with a little money and then gradually add more as the business grows. It would be unfair to require retail traders to start trading with a large amount of money.
NSE:IDEA
by ard-komercisto
SWING IDEA - GRASIMGrasim Industries , a prominent player in the Indian conglomerate landscape, presents an intriguing prospect for swing traders, as evidenced by a convergence of technical factors signaling a potential upward rally. Reasons are listed below : The repeated testing of the 2175 level underscores its significance as a critical support/resistance zone. With the recent breach accompanied by strong candle activity, the stage is set for a significant market movement. A bullish engulfing candle, spanning daily price action over the past two months, serves as a powerful signal of bullish momentum, marking a pivotal juncture for traders. The presence of the 50-day Exponential Moving Average (EMA) as a support level on the daily timeframe adds further credence to the bullish outlook. Elevated trading volumes serve as a corroborating factor, indicating heightened market participation and conviction behind the price movement. The recent breakout from a two-month consolidation phase signifies a significant shift in market dynamics. Such breakouts often herald the onset of a new trend or the resumption of an existing one, presenting lucrative opportunities for traders to capitalize on directional movements. The consistent formation of higher highs underscores the underlying strength of the uptrend. This pattern of ascending peaks reaffirms the prevailing bullish trajectory, offering traders confidence in the sustainability of the upward momentum. Target - 2360 // 2575 Stoploss - Daily close below 2045 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:GRASIMLong
by Visionary_Growth_Insights