ENTRY: 213
TARGET 1: 239
TARGET 2: 267
SL: 203
PRO
- Breaking Demand zone (Weekly) with Good Volume.
- Breaking First Pivot Level.
- RSI above 50.
- Sellers are weak.
- Breaking daily trendlines.
CONS:
- No Higher highs.
- Still in a downtrend.
Nitin Spinners Ltd, promoted by the Nolkha family of Bhilwara, is one of the leading manufacturers of cotton yarn, knitted fabrics, greige and finished woven fabrics and a Government of India-recognized export house. Established in 1992, NSL started operations with open end spinning with 384 rotors. Currently, the company has an integrated textile complex with...
DON'T HAVE TIME TO MANAGE YOUR TRADES? | Trendline Breakout in NITINSPIN
- Take BTST trades at 3:25 pm everyday
- Book profits within first 30 minutes of the market opening
- Try to exit taking 3-5% profit of each trade
- SL can be taken when 5/15 min candle close below 44EMA
Now why do I prefer BTST over swing trades? The primary reason is that I have observed...
Nitin Spinners underwent a big capex (for its size) in 2018 -20 after doing a QIP and prefential issue of equity shares at 110-120 a piece in November 2017... Its yet to be rerated fully and can give incremental gains going forward.. Buy with a SL of 185 for target of 400 and more..patience is the key in this one... Earnings have increased exponentially in line...
double bottom formation
Good momentum on Weekly and Monthly charts
All time high breakout with good momentum
RSI, ADX and MCAD supporting good momentum on daily charts
Textile Theme!!
Huge Volumes building up.
Stock is trading at all time high.
Will it reach to channel top??
Let me know your views!!
Disclaimer: Chart is shared only for educational purpose. Before investing please consult your financial advisor.
NITIN SPINNERS broke out to an all time high couple of days back and Today is seeing follow through buying on fairly large volumes. Can buy with a stop loss of 8%. Fundamentally also strong with improving return ratios
