Momentum swing idea|Vidhi Specialty Food Ingredients LtdVidhi Specialty Food Ingredients Ltd
Vidhi Specialty Food Ingredients Limited, incorporated in 1994, is a leading manufacturer of Superior Synthetic and Natural Food Grade Colours. The company is Asia’s 2nd largest food colour manufacture
Fundamental :Strong
Market Cap ₹ 2,367 Cr. Current Price ₹ 474 Stock P/E 67.9
ROCE 17.6 % ROE 16.2 % Debt to equity 0.15
Promoter holding 64.3 % Quick ratio 2.08 Current ratio 3.00
Piotroski score 6.00
Profit Var 3Yrs 3.57 % Sales growth 3Years 21.6 %
Return on assets 11.1 %
This stock is already in momentum zone also look at reversal up move momentum.
if its continue we have to keep watch it closely.
although food colour business is in trend since long time.
keep in radar.
Note: I am not SEBI registered financial Adviser. I solely present my views on chart .I do not charge any kind of service. This is not buy sell recommendation.
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Vidhispecialty
Pure price action Swing trade opportunity in VIDHI SPECIALTYVIDHI SPECIALTY has gone 10x since the March 2020 covid crash and still rising.
The chart has formed an inverse head and shoulder pattern on the daily timeframe .
A strong green candle with Huge volumes broke out of the resistance zone providing a good swing trade opportunity.
Huge volumes and big green candles usually attract little profit-booking, which should bring the prices back to the breakout point.
Risky traders can take a trade in the next trading session and put a stop loss below the support marked on the chart or below the breakout candle.
The key to making consistent profits in trading is not just identifying a pattern and taking a trade right away.
The obvious is not always obvious.
Protect your capital. It's okay to lose an opportunity than take a loss.
I would deploy a trade if the price retraces & takes support near the breakout zone.
This filters out the fake breakouts (fakeouts). This also increases the chances of losing out on the trade if the price does not retrace, but I'm okay with moving on to the next opportunity.
Stop-loss : Slightly below the strong support.
Target : The depth of the Head & Shoulder pattern, measured from the breakout point.
Risk/Reward : 1:3
Disclaimer:
This is not buy/sell advice. Please do your due diligence before making any trading decision or consult your financial advisor.
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