Pullbacktrade
"SATINDLT: A Newly Listed Gem Poised for Potential Gains"Description:
🚀 SATINDLT: A Hidden Opportunity Unveiled! 📈
Are you on the lookout for a fresh trading prospect? SATINDLT, newly listed on NSE in November '22, is making waves with its potential. Here's the scoop:
Key Points:
📊 Newly Listed Gem: SATINDLT emerged on the NSE scene in November '22, offering a unique opportunity for traders to get in on the ground floor of a promising stock.
📈 Trendline and Horizontal Support: The stock is currently trading on both a trendline support and a horizontal support zone. This dual support structure adds strength to the trade setup.
🔙 Pullback from Support: SATINDLT has recently experienced a pullback from these support levels, potentially setting the stage for a bounce-back rally.
💰 Favorable Risk-Reward: This trade setup offers an enticing risk-to-reward ratio, allowing you to aim for greater gains while carefully managing your risk.
📈 Entry Price (in Rupees): Consider entering the trade at Rs 116.00, positioning yourself for potential upside as the stock regains momentum.
❌ Stop Loss (in Rupees): Protect your investment with a stop loss at Rs 105.00. This level serves as a safety net should the trade not go as planned.
🎯 Target Price (in Rupees): Our target is set at Rs 160.00, representing a significant potential upside. This is where you may consider taking profits.
🚀 Trade Strategy: Keep a close eye on SATINDLT as it navigates this exciting phase. Be prepared to act when the stock gains traction, and remember to adjust your stop loss to secure your gains.
This trade idea offers a comprehensive plan, highlighting the unique opportunity presented by a newly listed stock. Dive into SATINDLT as it shows potential for a rewarding journey. Happy trading!
(Note: Always conduct your own research and assess your risk tolerance before executing any trade. Trading involves risks, and past performance is not indicative of future results.) 📊💼🧐
"SHRIPISTON: Navigating Opportunity with Caution"Description:
📈 SHRIPISTON: A Careful Approach to Potential Gains! 🚀
Discover an opportunity with SHRIPISTON, a stock that requires a cautious strategy due to its unique characteristics. Here's why this trade deserves your attention:
Key Points:
📊 Entry Price (in Rupees): Consider entering the trade at Rs 1100, positioning yourself for potential gains as SHRIPISTON unfolds.
❌ Stop Loss (in Rupees): Protect your investment with a stop loss at Rs 890. This level acts as a crucial safety net in case the trade doesn't go as planned.
🎯 Target Price (in Rupees): Our target is set at Rs 1700, representing a significant potential upside. This is where you may contemplate taking profits.
🕒 Trade Duration: Plan to hold this trade for 45 to 90 days, providing the necessary flexibility to capture potential gains.
📈 Risk-Reward Ratio: The risk-to-reward ratio for this trade is approximately 1:2.11. For every unit of risk, there's a potential reward of 2.11 units, resulting in a risk-reward ratio of "1:2.11."
🚀 Trade Strategy: Exercise caution while trading SHRIPISTON. Keep your stop loss intact and trail it periodically to secure gains as the stock progresses.
📉 Low Tradable Volume: Be mindful of SHRIPISTON's low tradable volume, which can result in upper or lower circuit limits being reached unexpectedly. Trade with caution.
📉 Correction from Highs: The stock has experienced a correction from its higher levels, potentially providing an attractive entry point.
📊 Trading on Support Area: SHRIPISTON is currently trading within a supportive area, offering a favorable entry zone.
💰 Favorable Risk to Reward: Despite the unique challenges, this trade presents a favorable risk-to-reward ratio, allowing you to aim for higher rewards while managing risk diligently.
This trade idea offers a comprehensive plan, complete with a calculated risk-to-reward assessment. Approach SHRIPISTON with caution, considering its low tradable volume and potential circuit limit fluctuations. Exercise prudent risk management to navigate this opportunity. Happy trading!
(Note: Always conduct your own research and assess your risk tolerance before executing any trade. Trading involves risks, and past performance is not indicative of future results.) 📊💼🧐
VOLTAMP: A Second Swing Trading OpportunityDescription:
📈 VOLTAMP: Embracing the Swing Trading Momentum! 🚀
Get ready for another exciting swing trading setup with VOLTAMP! Following our earlier success on May 26th, 2023, we've uncovered another promising opportunity:
Key Points:
📊 Correction from Highs: VOLTAMP has corrected from higher levels, creating an ideal entry point for traders seeking to capitalize on the next upswing.
📉 RSI Cooled Down for Optimal Entry: The Relative Strength Index (RSI) has cooled down, signaling an attractive entry window as the stock regains momentum.
📊 Up-Trending Stock: VOLTAMP continues its upward trajectory, showcasing strong market sentiment and potential for further gains.
📈 Volume Confirmation: As the stock price rises, supportive volume activity bolsters the trend, providing additional confirmation of the stock's strength.
📊 Trading on Support Area: VOLTAMP is currently trading within a reliable support area, offering a prime entry zone for traders.
💰 Favorable Risk to Reward: This trade boasts an appealing risk-to-reward ratio, allowing you to aim for higher rewards while prudently managing risk.
Taking 50DMA as Support: Stock is trading on 50DMA, which is acting as support.
📈 Entry Price (in Rupees): Enter the trade at Rs 4880.00, positioning yourself for potential gains as VOLTAMP's momentum builds.
❌ Stop Loss (in Rupees): Protect your investment with a stop loss at Rs 4250.00. This level serves as a safeguard in case the trade does not unfold as anticipated.
🎯 Target Price (in Rupees): Our target is set at Rs 6400.00, reflecting a substantial potential upside. This is where you may contemplate taking profits.
🕒 Trade Duration: Plan to hold this trade for a duration of 45 to 90 days, aligning with your swing trading strategy.
📈 Risk-Reward Ratio: With an entry at Rs 4880.00 and a stop loss at Rs 4250.00, the risk-to-reward ratio for this trade is approximately 1:1.15. For every unit of risk, there's a potential reward of 1.15 units.
🚀 Trade Strategy: Stay vigilant as VOLTAMP continues its upward trend. Monitor the stock closely and adjust your stop loss to secure gains as the trade progresses.
This trade idea offers a comprehensive plan, complete with a calculated risk-to-reward assessment. Embrace the swing trading momentum with VOLTAMP for another potentially rewarding journey. Happy trading!
(Note: Always conduct your own research and assess your risk tolerance before executing any trade. Trading involves risks, and past performance is not indicative of future results.) 📊💼🧐
"XCHANGING: Capitalize on the Uptrend Potential"Description:
📈 XCHANGING: Seize the Uptrend Opportunity! 🚀
Prepare to make the most of a promising uptrending stock - XCHANGING! Here's why this opportunity deserves your attention:
Key Points:
📊 Up-Trending Stock: XCHANGING has been consistently riding an uptrend, showcasing strong market sentiment in its favor.
📊 Positive Relative Strength (RS): The stock boasts positive Relative Strength (RS), indicating its ability to outperform the broader market.
📉 Correction from Highs: After reaching higher levels, XCHANGING has experienced a healthy correction, potentially setting the stage for the next leg up.
📊 Trading on Support: XCHANGING is currently trading on a reliable support level, providing a solid foundation for potential price appreciation.
🔙 Bouncing Back from Support Zone: The stock is showing signs of a rebound from the support zone, a bullish indicator.
📉 Cooled-Down RSI in Buying Zone: The Relative Strength Index (RSI) has cooled down and entered the buying zone, signaling an attractive entry point as the stock regains momentum.
📉 25% Correction: XCHANGING has undergone a manageable 25% correction from its higher levels, potentially presenting an excellent entry opportunity.
💰 Accumulate or Trade: It's an opportune time to consider accumulating or trading XCHANGING, offering potential for both short-term and long-term gains.
📈 Hold for the Long Run: If possible, contemplate holding XCHANGING until a major breakdown occurs, capitalizing on its robust uptrend.
💰 Favorable Risk to Reward: This trade boasts an enticing risk-to-reward ratio, allowing you to aim for higher rewards while prudently managing risk.
📈 Entry Price: Consider entering the trade at Rs 97. This entry level strategically positions you for potential gains as XCHANGING continues its uptrend.
❌ Stop Loss: Safeguard your investment with a stop loss at Rs 85.50. This level serves as a protective barrier should the trade not unfold as anticipated.
🎯 Target Price: Our target is set at Rs 130, reflecting a substantial potential upside. This is where you may contemplate taking profits.
📈 Risk-Reward Ratio: With an entry at Rs 97 and a stop loss at Rs 85.50, the risk-to-reward ratio for this trade is approximately 1:1.53. For every unit of risk, there's a potential reward of 1.53 units.
🚀 Trade Strategy: Stay confident as XCHANGING's uptrend continues. Keep a close watch on the stock and adjust your stop loss to secure gains as the journey unfolds.
This trade idea offers a comprehensive plan, complete with a calculated risk-to-reward assessment. Seize the opportunity with XCHANGING as it rides the uptrend wave with confidence. Happy trading!
(Note: Always conduct your own research and assess your risk tolerance before executing any trade. Trading involves risks, and past performance is not indicative of future results.) 📊💼🧐
JAY BHARAT MARUTI Pullback Trade1. 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 Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
Strength is coming back in $NSE:JAYBARMARU. Buy with a stop at ₹300.
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
MEDICO REMEDIES Pullback1. 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 Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After rising from ₹17 to ₹100 in last one year NSE:MEDICO went down to ₹64, now it's moving up again. Buy with a stop at ₹67.50.
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
Bank Nifty AnalysisIn this idea I would try to discuss a few possible trading scenarios in Bank Nifty.
⚡Bank Nifty build a range of approx. 1000 pts from 43400 to 44500 and then broke out of it sharply. The move from A to B was quite swift and may have more legs on the upside.
⚡The current move from 45650 to 44650 looks like a pullback. It may still try to pullback further and retest the breakout level.
🚀So, if the price pulls up from here to the downtrend channel or 45150, one may look for a selling opportunity on the lower timeframes for targets of 44650 or so.
🚀If price doesn’t pull up so deep and rather drops down to 44500 from here, one may look for buying opportunities in there for continuation up to 45650
🚀The third scenario is that the price breaks up above 45150 from here. In that case, one may look for breakout opportunities for targeting 45650 or higher.
Thanks for reading.
Do 🚀 boost for more such ideas in future.
Regards.
CDSL taking support at previous resistance zone?1. 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 Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After falling since Sep'22, NSE:CDSL started a slow rise in Apr'23. Currently, it is trying to take support at a previous resistance zone at ₹1025. One can buy if it crosses ₹1057 (aggressive traders) or ₹1094 (conservative traders) with a stop at ₹1020.
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
Momentum coming back in AplApollo?1. 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 Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
AplApollo is coming down since Feb'23 but from last few days interest seems to be coming back in this share. It is a buy with a stop loss around ₹1100.
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
RVNL poised for a breakout?1. 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 Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After rising nearly 275% in the last one year, NSE:RVNL pulled back a little in the last one month. Currently, it is consolidating between ₹125 and ₹110. If a breakout happens it will be a buy with stop loss just below ₹109.
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
Creditaccess consolidating in a range, near 870 grt risk rewardCreditaccess consolidating in a range since Apr'22 and whenever this range will break it will just fire up. Now there are 2 options in front of us
1) Wait for retracement to 870-880 zone which will give great risk reward. Just place alert and wait for trigger
2) Wait for open above 1090 and then enter.
3) There is another option, enter near 945 with 33% plan qty and add more near 870-880 zone. If price retraces from 945 zone then can add more above 1090 zone.
SL in all cases will be closing below 850
After breakout consolidation is very healthy sign but this stock can take time to give decent returns.
Always respect risk, reward will be taken care by Market forces.
Enjoy
Oberoi Reality ready to change its realityWeekly chart of Oberoi Reality reaching near resistance of 1050 which was made in Nov'21. There can be 2 scenarios 1) Wait for pullback (if Nifty corrects) to 994-1000 zone which will give best R:R, 2) if close above 1050 then can enter for targets 1) 1142 2) 1189. SL any day closing below 964
#LT pullback towards 1860 will be grt place to buyWeekly & daily chart of Larsen & Toubro is giving me confidence that this counter can do well if market supports. Any pullback towards 1860/1850 zone will be great place to enter with stop loss of 1811 on closing basis. Weekly & Daily RSI, ADX all are in bullish territory and can take this giant upward towards 1990/ 2078 zones. Last time when it happened(hint check 7th July 2022) this stock gave 20% move, keep eyes open.
Always respect risk, reward will follow , happy investing :)
Nifty50 - Overall Still Bearish - Sell On Rise CandidateNSE:NIFTY is still a sell on rise candidate on DTF & WTF basis. Overall view still bearish as the index is still trading below 20/50/100 EMA
Any upside will be just a pullback retracement rally,. Potential bearish pole and flag patten in the making and such pattens do attract 38.2%, 50% and 61.8% levels which are depicted using Fibo levels. A 72.8% retracement is a possible stretch and remote possibility
T1 - 15989
T2 - 16180
T3 - 16450
Downside open to 15110 levels again
Interestingly on weekly time frame on June 13th, NIFTY formed a falling window candlestick pattern and as of July 1st closing, it has formed Downside Tasuki gap . As per the pattern analysis, bears are still strong as the bulls were not able to close the gap within 3 weeks of trades of falling window candlestick patten being formed. Sure you can see a retracement on the upside but higher level bears will bring in the supply making it a Sell On Rise candidate
Disclaimer -
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do your own analysis and consult your financial advisor before investing.
TIA!
#TataMotor LHHL, weekly inside setup, good news for F&O tradersTata motor is making Lower high, higher lows along with Inside candle pattern in weekly time frame. Any pullback trade towards 394-400 zone will give good entry with SL closing below 390. Above 420, 430 & 440 looks achievable but trailing tightly in this trade would be required.
#SCHAEFFLER India, 2515 great place to buySchaeffler India corrected around 32% from the highs of 3953 and now I am waiting it to touch 2515 which is 200 daily EMA support. If you look at the daily chart this stock never touched 200 daily EMA support and it can give good opportunity to people like me to enter with low risk and high reward setup. If I get entry around 2515 then my targets would be 1) 2860 2) 3000(being round number) 3) 3400 with SL of 2140 on daily closing basis. Once second target will be achieved I will offload some qty, bring SL to my cost and keep trailing so that I don't lose any money on the trade.
Always respect risk , happy investing :)
Indusind,1137 will be grt place to buyIndusind weekly chart looks promising as of now, pullback towards 1137 will provide good risk reward setup. After spending 45 weeks below this price, Indusind broke out on 5th Sept 2022. So in my humble opinion price should not go below 1137 or 1062 which is 200 weekly support. Any retracement towards this zone will give swing traders great opportunity to earn quick 5-6%.
Plan a) place alert for 1137 and enter with only 33% of plan qty and add more once price open above 1235
b) buy 33% qty near 1137 and add more near 1065 Sl in both cases will be closing below 1035.
As Bhasin sahab always says " lene ki chesta to kijiye"
Always respect risk, happy earning :)
#SCHNEIDER ready to give electric shock above 242Weekly chart of Schneider is looking bullish supported by great volumes during last week. I am waiting for some cooling off and pullback towards 169 and 152 to add 33% qty each at both the support levels. If price spends some time near 170-197 zone then we can plan some entry in this zone itself. And if it gives 2 consecutive closing above 200 then 240 is on the card which is 2015 resistance ATH price.
Keep eyes open, respect risk, happy investing.
Pullback after Trendline BreakoutAfter a Breakout on 04 july The stock has made a swing of almost 10% and now the price has been in correction. The prices are taking support at previous resistance which is also a Pivot point which makes a good entry point.
Entry can be done above the high of today's candle and stop loss should be below the Pivot Point for a Target of R1 and R2.
TATA Steel gives another chance ??TATA STEEL gives another opportunity to missed traders with a beautiful low volume pullback to its breakout point.
The first breakout was given on high volume and stop loss has still not been hit. Stock gives traders another chance to enter
long with a good risk to reward of 1:2.
This pullback seems to be a normal one and no need for more selling to take place, wait for a bullish engulfing or the high of the recent red candle to be taken out for a long trade.
Note: More aggressive traders could try entering as soon as the market opens to get an even better entry price.
Keep It Simple
bitcoin pullback trade setup after a long bearish move and bad sentiment
btc price has formed a consolidation pattern and
on 1h time frame we can see a inverted head and shoulder pattern
initiating trade according to -
as per neckline drawn on the chart
after the breakout only we can enter long and keep stop loss below the shoulder line
info line drawn from the head of the pattern indicates the up move possibility
duration of the trade could be short term
trade with proper risk management and position sizing
Grauer & Weil break out and pull back1. 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 Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or daily RSI closing below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
after a consolidation since October 2021, BSE:GRAUWEIL gave a break out on 28th April and pulled back today to it's breakout point. It will be a buy if it crosses ₹72 once again with the stop at ₹67.
Other fundamentals:
1. GWIL, with track record of over six decades in electroplating business continues to have leadership position in the domestic electroplating chemical industry with around 30% market share. GWIL is promoted by More family with Mr. Umeshkumar More, currently serving as Chairman, being associated with the company since July 1969. His more than five decades of experience helps the company in strategic planning and expansion of the business.
2. GWIL has planned total capex of around Rs.150 crore in next three years period ending FY24 whereby majority of the capex pertains to expansion of its capacity for industrial paints, setting up a research & development centre, expanding capacity of its electroplating chemicals with some minor capex at each of its manufacturing facilities. Also, its earlier envisaged capex for mall expansion has been put on hold in the medium term. This capex programme is proposed to be entirely funded from internal accruals and from its available liquidity as it has no plan to avail any term debt for the same. Realization of envisaged returns from the capex would be critical to maintain its comfortable return on capital employed.
3. Owing to its robust cash accruals, the company continues to finance its operational and capex requirements largely through internal accruals leading to strong capital structure marked by overall gearing of 0.04 times as on March 31, 2021. GWIL continued to have no long-term debt except the unsecured loans from promoters and lease liability. Also, with no major debt funded capex planned till FY24, the overall gearing of the company is expected to remain at comfortable level. On the back of very minimal debt and strong accruals, its debt coverage indicators also stood highly comfortable marked by Total Debt/GCA of 0.25 times and interest coverage of 39.47 times during FY21.
4. The company’s revenue profile is moderately diversified owing to its operations under different business divisions such as surface finishing (of which electroplating chemicals, paints & oil & lubricants are sub-divisions) engineering and shopping mall. Furthermore, electroplating chemical division has wide basket of products and the chemicals manufactured by the company finds its application in various industries such as automobiles, consumer durables, gems and jewellery, etc. Thus, GWIL benefits from the well-diversified product portfolio of chemical segment. Moreover, the company is also involved in the manufacturing of industrial paints, which is the second-largest contributor to the company’s revenue. The product profile in Paints include high performance industrial coatings (with applications in refineries, oil exploration, petrochemicals), Pipeline Coatings (duly approved by WRAS-UK and NSF –USA for application in drinking water pipelines, Irrigation water Intercity pipelines), Marine Coatings (having applications in ships for long life Anti-fouling coatings besides aerospace and defence coatings. The engineering division is involved in manufacturing and providing turnkey solution for electroplating plants, effluent treatment plants and other engineering products. Over 800 plants of varied types have been commissioned by division worldwide till now. Apart from the above, the company has shopping mall spread over 475,000 sq. ft. at Kandivali (Mumbai suburbs) with 247,000 sq.ft. of leasable area. Thus, the diversified revenue profile has helped the company to reduce its dependency as well as tide over any downturn in a particular business segment as was evident during FY21 (refers to the period April 1 to March 31) when income and profitability of shoppertainment segment had declined, the same was largely compensated by improved performance of its engineering division.
5. Last 10 years average ROE greater than 15%.
6. Debt to equity at 0.02 (less than 1 is good), Interest Coverage at 114 (greater than 3 is good), Current ratio at 3.31 (greater than 1.5 is good), FCF to CFO at 76.4%.
7. The company has a dividend yield of 0.72% (consistent dividend payer since 2010).
8. FII stake increased since September 2020 from 0.07% to 0.71% in March 2022.
9. Risk: -
a) In chemical segment, the company’s raw materials are various kinds of metals, which are used in powder form for plating/coating, which continue to remain highly volatile. On the other hand, the industrial paints have crude oil derivatives as majority of its raw materials whereby prices of raw materials are linked to crude oil price, which is again volatile in nature.
b) In chemical division, GWIL has been largely able to pass on increase in raw material prices in a timely manner on the back of its leadership position in the electroplating chemical segment. However, as pricing for supply of industrial paints are decided at the time of bidding, the profit margins of paints division remain exposed to volatility in the input prices. Moreover, being relatively small player in this division, the pricing power is also low.
c) As the company’s operations involve import/export of raw material and sales of its products, it involves transactions in foreign currencies which are done mostly in Yen, USD, and Euro. During FY21, the imports accounted for Rs.58.99 crore as against exports of Rs.60.57 crore. The company has policy of hedging majority of its imports; however, the receivables are normally kept open and hence are exposed to foreign exchange fluctuation.