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Trendreversal

HLE Glascoat - Under performer may show trend reversalHello, Everyone I hope you all will be doing well in your life and investing. Here I have brought a stock that is mostly at the bottom. HLE Glascoat Ltd is the name of the stock. CMP is 402.80. 350 looks like strong support. 430 is 200 DMA. Trend reversal Only if it close above that. It may turn positive for the long term. If it close above 520 we may see long term target as per fibbo 620, 790, 920, 1050 to 1250. Not strong conviction but chances of bottom out. HLE Glascoat Ltd Source: screener.in About HLE Glascoat Ltd is in the business of manufacturing and sales of glass lined equipment and filters and dryers equipment for various industries in the country. Key Points Business Segments Q3FY24 Filtration and Drying Division (~39%) The company manufactures filtration and drying equipment for various industries. It is a market leader with greater than 50% market share. Glass Lined Equipment Division (~49%) The company is the 2nd largest domestic player, with a 25% market share in glass-lined equipment manufacturing and sales. Heat Exchange Equipment (12%) The Company completed the acquisition of 35.56% of the partnership share in Kinam Engineering Industries on 26th September 2023. Kinam specializes in the manufacturing of shell and tube and corrugated heat exchangers of up to 4,000m2. Industry-Wise Revenue Breakup Q2FY24 Specialty Chemicals- 42% API & Pharma- 39% Agrochemicals- 9% Others- 10%. Manufacturing Facilities The company owns 7 manufacturing facilities globally. and possesses the capacity of producing ~600+ filters & 2,000+ GL Equipment p.a. Capex Completed Greenfield Plant at Silvassa, and began commercial manufacturing in Q1FY23. In FY23, the Co. acquired a land area spanning ~1.30 Lakh square meters near Anand, Gujarat to establish a manufacturing plant dedicated to glass-lined equipment. Key Clientele Clients include Bayer, UPL, Sun Pharma, Atul, Gsk, BASF, Pi Industries, SRF, Zydus, Dr. Reddys, Sanofi, and others. Top 10 customers of the company account for ~35% of the total revenue in the glass-lined equipment segment and around 44% of the total revenue in the filtration and drying equipment segment in FY23. Order Book Position The company has an order book position of Rs 550 Cr as of Q3FY24 which provides visibility of 5 months for the India business and 12 months for the Thaletec business. Discontinuation of Chemical Business In May 2020, the company announced wind-down of its chemical manufacturing situated in Maroli due to its presence near upcoming residential establishments. The division accounted for ~20% of revenues in FY20. Amalgamation The company in Aug 23 proposed the acquisition of a 70% stake in Kinam Engineering Industries engaged in the manufacturing of heat exchangers. In Q2 FY24 it acquired a 35.56% stake in Kinam Engineering for ~Rs. 80 Cr and acquired a 0.50% equity shareholding in Kinam Enterprise. The Board in Feb 24 has approved the Scheme of Amalgamation of Kinam Enterprise Private Limited with HLE Glascoat. Consequent to the Scheme the Company will acquire the control over the balance of 34.44% shares (to make it a 70% controlling stake) in Kinam Engineering Industries Private Limited. Focus Its focus will be on growing its market share in the Filtration, Drying, and Glass-Lined Equipment segments in India and abroad. This is just to boost my confidence. No Suggestions for buying. Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. I will not be responsible for any of your profit/loss with these suggestions. Consult your financial advisor before making any decisions.
NSE:HLEGLASLong
by Alleyshah
Midcap ETF forming Dual Rounding PatternThe ICICI Prudential Midcap ETF is currently exhibiting a technically significant dual rounding pattern on its chart, with one smaller rounding top pattern nested within a larger, longer-term rounding formation. The 21 level has emerged as a strong support zone. A breach of this level would likely activate the smaller rounding top pattern, potentially leading to a further decline toward the 19 level. The ETF initially displayed a bullish structure characterized by higher highs and higher lows, but has now shifted to forming lower highs and lower lows, a common early indicator of a trend reversal from bullish to bearish. This suggests that while the market is in the early stages of this reversal, it's too soon to definitively call the transition. Volume analysis plays a crucial role in confirming price action, as volume tends to be a more reliable indicator. In the recent chart movement, a clear volume divergence was observed during the last upward move, indicating weakening buying interest. Conversely, there has been volume agreement during the recent price decline, further supporting the possibility of a bearish shift. Close monitoring of volume trends will be essential in confirming this potential reversal and avoiding any price manipulation signals. ****Nifty Midcap forming same pattern but we analyze this because we will do Price Volume Analysis***
BSE:MIDCAPIETFShort
by Arvind_Share_Academy
Devyani International (W Bullish Pattern)Date : 10th April 2024 Time :12.00 PM Devayani International is showing reversal from its usual support with other bullish indications. As we can see , first of all W pattern is visible from strong support. also there is a bullish Divergence too. Wave Count on Devyani is also looks like its time for ABC wave till depth of correction price level, which is 198 Rs. Order Blocks on multiple time frame is also visible after last bullish movement. With A Stop Loss of 150 Rs. [ i] We can Long Devyani Int. Entry Zone will be 162 to 155 Rs with Target of 198 Rs and RR is Minimum 1:3
NSE:DEVYANILong
by KRSCharts
Vodafone in 4H & 2H Demand Zones: Potential Reversal Ahead?Vodafone is currently consolidating in both the 4-hour and 2-hour demand zones , coupled with daily trendline support , indicating a strong potential for a bullish reversal. This price consolidation suggests potential accumulation and could lead to a bullish reversal in the near future. Also convergence of support levels across multiple time frames adds confidence to a possible bounce in price action. There should be a lookout for a potential bullish breakout, especially considering the strong confluence of support levels. Key Levels: Daily Trendline Support: 4H Demand Zone: 2H Demand Zone: Breakout Possibility The price is consolidating within the demand zones in both the 4H and 2H time frames, while maintaining contact with a daily trendline support. This consolidation could signal an accumulation phase, where the market is indecisive before a breakout. Once the price has broken out of the range (i.e resistance @ 13.77), The target could be the next supply zone around 15. There is also a small gap filling opportunity as well
NSE:IDEALong
by JS_Trading_Tradingmadesimple
2
ITC IS GOING TO HIT 500!!!Once share break the green line and it gives positive signal to enter for long term target 500 but 392 is near support too. If by chance it breaks then near term short position will be chosen. My 1st Target is 427 2nd Target is 450 Since volume is increasing day to day and it is near to support and moreover, reason for downward is BAT going to reduce its stake. I doing to think it will happen at this level. So chances of upward is more as compare to downward.
NSE:ITCLong
by sunnyfutures
INVESTMENT PICK - WIPRO - TREND REVERSAL LONG ENTRIESSymbol - WIPRO Wipro Ltd is a global Information technology, consulting and business process services (BPS) company. It is the 4th largest Indian player in the global IT services industry behind TCS, Infosys and HCL Technologies. Wipro was in consolidation & accumulation phase from July 2022 to December 23. After that it broke out of this consolidation zone with good buying volumes & went till 550. Now it is retracing back to breakout zone which is 450. Wipro is a company with good fundamentals so it can be considered for medium to long term investment. Wipro CMP - 452 It can be accumulated at current level for long term Investment perspective. More position can be added at 410 - 415 levels. Stoploss can be 350 or below 350. Targets can be 545, 600 & 720 which represents 21%, 35% & 58% upside from current level respectively. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my investment position. You can track it for educational purposes. Thanks!
NSE:WIPROLong
by akshit_official
4
BATAINDIA Breakout of Darvas boxNSE:BATAINDIA 1W TIME FRAME 1. Trading at a support line at ₹1358.00. The stock is experiencing accumulating buying interest and is expected to bounce back up. The stock price is currently resting on this support level. 2. Darvas Box: A rectangle on the chart created by drawing horizontal lines at the highs and lows of a trading range. The idea is that the stock price will eventually break out of the box in either direction. 3. In May 2021, the stock initiated an upward move from 1350 to 2000, then retraced back to support. Starting from where the last journey began in March 2023, the stock once again saw an upward trajectory. It later retraced back to support. Now, mirroring previous patterns, it's establishing a base. In April 2024, sellers attempted to push the price down, but they were unsuccessful. This failure indicates high accumulation or buying interest, suggesting a potential upswing. If the stock consolidates near resistance and forms a base, we may anticipate further upward movement. It is important to conduct your own research before investing in any stock. Few Examples of Darvas Box For better understanding Darvas Box Bigger the bigger the potential of upswing Ex 1 . Ex 2 . Ex 3 . These are examples for better understanding about the Darwas box.
NSE:BATAINDIALong
by NARAYANTAPARIA
NIFTY DAILY - 20/3/2024Nifty open higher but bulls didn’t survive into the market and traded range bound for entire session. Nifty has formed Doji candle on a daily chart which indicates thug of war between buyers and sellers. Double moving averages is giving cross down, we may see weakness into the market. If the Nifty index is at a low point and if the market opens positively the next day and maintains stability at current levels, there's a chance that the downward trend could shift, and prices could start rising again. Reason behind this is that when a Doji formation is happening at a Bottom level we may see trend reversal from there. So, further levels for nifty will be 21667 will work as support level and 21906 will work as resistance level. Today’s Advance Decline ratio of NIFTY50 Advance - 27 Decline - 23 FII Sell – 2599.19 crore DII Buy + 2667.52 crore. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
NIFTY DAILY - 5/3/2024Nifty open with negative note and rangebound throughout the day. Nifty has formed another Doji candle on daily chart, which indicate indecisiveness among bulls and bears. Index find immediate support at 22303 level and resistance will be 22520 level. This suggests caution and the need for careful decision-making in the current market environment. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
Trend Reversal - ABFRL📊 Script: ABFRL 📊 Sector: Retail 📊 Industry: Textiles - Products Key highlights: 💡⚡ 📈 Script has taken support near 224 level. We may see trend reversal from here. 📈 Upside we can see 245 , 250 level with support of 224 level. ⏱️ C.M.P 📑💰- 228 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:ABFRLLong
by radha_23
1