ELANTAS trade ideas
ELANTAS - BULLISH BREAKOUT (SUSTAINS)A triangle is a clear cut indication of consolidation followed by a breakout. A BIG BREAKOUT...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Watchout for Resistance Breakout - Keep AccumulatingElantas Beck India L is involved in the business activities of Manufacture of paints and varnishes, enamels or lacquers.
The Stock is likely to breakout its resistance. RSI is perfectly placed at 65 on weekly charts indicating that its not in overbought zone.
The most attractive thing about this stock is its Fundamentals. The Company has been reporting consistent growth in its sales and EPS for last 3 quarters. The Sales increased 19%, 26% & 23% YoY in Q2, Q3, & Q4 of FY21. EPS has improved 49%, 114% & 36% YoY in Q2, Q3, & Q4 of FY21. Mutual Funds have increased their stake from 6.24% in June 2020, to 7.57% in March 2021. FPI stake also increased marginally. The Company is debt free.
The Company has huge potential to report such robust numbers in future as well.
Accumulate for Targets of 4100-4400 with SL at 3450. Lon Term Target 5000+++
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ELANTAS WEEKLY CHART VIEW#ELANTAS WEEKLY CHART VIEW
Elantas Beck India Ltd. The stock price started the week with marginal negativity but til the end its managed to hold the same position with small bounce .
2350-2335-2300-2280 are should consider as immediate resistances where 2465-2520 are resistances.
Investment PickStock moved up from recent low's.
Not a popular name but strong MNC company.
Stock is about to complete Classic cup and handle pattern on charts.
One can start accumulating right now and buy rest of the quantity above 0.68Fib level closing.
Breakout zone mentioned on charts.
Closing above breakout level might trigger good amount of buying.
Can not time this stocks based on Volume expansion since stock is only Listed on One Exchange.
Stock is slow mover,do not trade this one .
Good for long term investment.
expected to reach target in 3-4 months.
Comments and observation are welcome.
