SHREEPUSHK looking good on a monthly timeframe#SHREEPUSHK has given a breakout a level of 340 on a monthly timeframe. Upside potential: 40-50%. Stop loss: 325. This is not a buy/sell recommendation. Research carefully and invest at your own risk
SHREEPUSHK
SHREEPUSHK - Ready for BreakoutHere is my observation for this stock
Double Bottom Pattern:
The chart shows a double bottom formation, a bullish reversal pattern indicating a potential end to the downtrend. This pattern often signals a shift in momentum from sellers to buyers.
Minor Resistance and Major Resistance Areas:
The stock broke above a minor resistance level and is now consolidating near the major resistance area. This resistance area is acting as a supply zone where sellers are currently active, but it also indicates strong interest from buyers as the price consolidates here.
Consolidation Near Major Resistance:
The stock is consolidating just below the major resistance, which is often a bullish sign. This consolidation, shown in the highlighted region, indicates that the stock is absorbing selling pressure and gathering momentum for a potential breakout.
Volume Dry-Up During Consolidation:
There is a noticeable drop in volume during the consolidation phase near resistance, a phenomenon known as a "volume dry-up." This suggests that sellers are losing interest or running out of shares to sell, increasing the chance of a breakout when demand picks up.
Rising Moving Averages:
The shorter-term moving averages are rising, indicating positive momentum. The alignment of moving averages supports a continuation of the uptrend, especially if the stock breaks out above the major resistance.
Trade Setup with Key Levels
Breakout Entry: A conservative entry would be above the major resistance area around 270-275 to confirm the breakout.
Targets:
Target 1: 310 – A short-term target after the breakout, based on nearby resistance.
Target 2: 340 – A medium-term target if momentum continues and buyers remain strong.
Target 3: 380 – For a long-term position, depending on how the trend progresses.
Stop-Loss:
Place a stop-loss below the consolidation range or the minor resistance level, around 240, to protect against a false breakout.
SHREEPUSHK - 50% gains possible from hereNSE:SHREEPUSHK
cmp is 221.70
50% gains is possible from here
immediate target will be 320
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.
ShreePushk : Good Breakout and retestShreepushk Has given a good consolidation breakout with volumes
It has confirmed its intend to go up by making a Bullish Engulfing candle at retest zone.
It may move up to 320 levels to complete its round bottom structure.
DISC: Not a buy or sell advice. Please consult your financial advisor before investing.
Shree Pushkar Bounce Back 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/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or close below daily supertrend (for short term traders) or close below weekly supertrend (for long term investors)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Largest weekly price spread
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After consolidation since October 21, NSE:SHREEPUSHK gave a break out on 21st March 2022. It corrected to the level of Rs. 272 and gave a bounce back today. It is a buy with a stop below Rs. 270.
Other fundamentals:
1. TTM sales growth of 29% and TTM profit growth of 49%.
2. Promoter stake increased since December 2019 from 65.03 to 67.03.
3. FII stake increased from 0.40 in June 2021 to 1.44 in December 2021.
4. Co. is a leading manufacturer of Reactive Dyes. It launched DYECOL™ range of Reactive Dyes to tackle environmental and sustainability issues of the textile wet processing industry. Its products are certified from “GOTS” and enjoy the privileged status of being a government recognized “Export House”.
5. Its product portfolio consists of 15+ grades of Fertilizers, all of which are distributed through its own distribution and dealership network in the states of Haryana, Punjab, Rajasthan, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Maharashtra, Karnataka, and Goa.
6. Co. manufactures feed grade Di-Calcium Phosphate (DCP) which is manufactured from the waste generated in the manufacturing process of its other divisions.
7. Co. utilizes high-pressure steam from Sulfuric Acid for power generation and internal consumption. In FY21, it also started Electricity generation commissioned for two solar projects of 2.00 MW and 2.60 MW each. It planned CAPEX of 21 crs out of which 13.29 crs has been incurred.
8. The company's Unit V capex is almost complete and a dry trial run has been started in Q2FY22 with commercial production expected to commence in FY22. The planned capex for this facility was 108 crs out of which 99.47 crs was incurred until December 31st, 2021.
9. Post the CAPEX made in the manufacturing facilities and acquisitions of two new companies, the manufacturing capacity of the company is expected to rise substantially.
Product - Current output (FY21) - Expected output (FY22-23E)
Chemicals – 14,260 MTPA – 38,260 MTPA
Fertilizers - 4,02,200 MTPA - 5,90,200 MTPA
SHREEPUSHK
CMP: 246
- Taking support at 200 ema
- 6 months consolidation near 4 year high
- Descending Triangle pattern breakout
Shree Pushkar Chem - CMP: 181Stock is in bullish momentum. It has given Channel breakout on the smaller time frame, Also it has given Rounding Bottom breakout on the longer time frame. ADX indicated a strong momentum ahead. RSI also indicates a continuation of the uptrend. We can expect price movement up to 215 in the near term. Also, We can expect price movement up to 240 to 300 in Mid Term.
