Permanent Magnets Limited
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Market insights
Permanent Magnets Ltd - Resistance + Trendline Breakout 📊 Script: PERMAGN (PERMANENT MAGNETS LTD.)
📊 Sector: Electrical Equipment
📊 Industry: Engineering
Weekly Time-frame
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 Already Crossover in MACD .
📈 Already Crossover in Double Moving Averages.
📈 Volume is increasing along with price.
📈 Script has given Trendline Breakout which was working as resistance(sown in chart) in both time frame daily as well as weekly.
📈 Current RSI is around 83.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 507
🟢 Target 🎯🏆 - 597
⚠️ Stoploss ☠️🚫 - 468
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Permanent Magnets BreakoutBeautiful flag pattern breakout.
This chart is only for study purpose and is not a buy or sell recommendation
PERMANENT MAGNETS : READY TO GOCan be a good buy @ CMP
TGT - 450 & 500
Disclaimer
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
PERMANENT MAGNETS : READY TO GOGood to accumulate at this level
TGT - 500 & 550
SL - 390
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
FLAG AND POLE BREAKOUT- PERMANENT MAGNETS LTDPML has given Flag and pole breakout on weekly charts. Ideal time horizon for tgt of Rs 500 should be 5-8 weeks, giving a potential upside of 35-40% from CMP 350-360.
The stock seems to be a good investment bet and can be accumulated between 325-350 levels.
The setup will be invalid if it closes below 280 DCB.
Permanent Magnets is one of the flagship Companies of Taparia Group, Mumbai and one of the leading manufacturers of Alnico Cast Magnets and Yoke Assemblies, Parts and accessories of electricity meters in the world. PML has started with supplies of Gas meters parts and accessories.
The main driver of ROE trend over last 10 years is Net Profit Margin
Company has made significant capex in last 3 years which might be affecting it's ROCE and ROE
Company has a lot of operating leverage. Increase in sales can result in disproportionate increase in operating income
ROE
Latest 29.91%
3yr Average 34.62%
5yr Average 24.18%
ROCE
Latest 38.99%
3yr Average 46.52%
5yr Average 35.03%
NET PROFIT MARGIN
Latest 13.44%
3yr Average 10.51%
5yr Average 6.91%
DEBT TO EQUITY
Latest 0.04
3yr Average 0.35
5yr Average 0.7
LONG for long termTrading idea for long term:
Permanent magnets trading in the trend line channel, watch out for breakout from the channel at resistance level.
Stoploss at 90
Ascending Channel in Permanent MagnetPermanent Magnet is trading in an Ascending Channel with resistance at 120.75. On a daily chart, if the close is above 120.75 for consecutively 2 days then one can go for a new long position.
BSE:PERMAGN
In downtrend. Support at 123, can not say about target till some momentum is seen. Three times it shied away from 4/1 resistance in its attempt to cross the resistance, may be fourth time it will be lucky,
BullishJust tested and closed above 2/1 support and has a long green candle today. If it remains bullish in short term, 175.50 can be seen in short/ intermediate term
Permanent Magnets - Catch me if you cancatch if falls near 135-140 levels (CMP 169.85)
you may place bid at CMP as well ..no harm
P.S. Stock moves in circuit
