ulfex tight setupulfex has given 30 to 40 5 move in last 3 weeks in daily chart now conslidating and forming very good setup for tightness traders
Uflexanalysis
Packaging sector is deeply undervaluedWhen FMCG, pharma etc stocks are trading @50 times their current earnings and 10 times their current Market cap...
How can their suppliers from packaging industry stocks trade @just 3 times their current earnings and 0.5 to 1 times their current market cap ??
1. Hubli plant has commenced operation in this quarter which will boost topline growth
2. Good domestic demand (uflex serves 49% of domestic market)
3. During interview management has given 17% EBITDA guidance for Q3 if crude stays around 80$ range (Q2 EBITDA was 12%)
4. Debt of Rs 500 Cr will be repaid every quarter (current debt - 3000cr)
5. RSI Oversold, 1 week timeframe MACD support
UFLEX - Ichimoku Bullish BreakoutStock Name - Uflex Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 685
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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Uflex in the buying zone for a positional tradeBuying zone: 590 - 615, with initial target of 658 which is also the short term resistance zone.
A move above 658 will take the price to 720.
Support at 590 and 556. Exit trade if price falls below 556.
Note: Personal analysis, not a buy or sell recommendation.
