APCOTEXIND trade ideas
APCOTEX INDUSTRIES LTD.bullish view breakoutpcotex Industries Ltd. engages in the manufacture and sale of synthetic lattices and rubber. Its products include tyre cord dipping, paper board coating, water proofing, paint emulsions, textile finishing, hand gloves, polyblend, construction, and carpet. The company operates under the India and Outside India geographical segments.
bullish breakout trend line with double bottom pattern ...for short term buying at breakout of trend line or retest of trend line as i mention on chart
Market capitalization
24.07 BINR
Dividend yield (indicated)
1.18%
Price to earnings Ratio (TTM)
41.36
Basic EPS (TTM)
10.91INR
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. I share whatever I do. Please, do your due diligence before investing.
APCOTEX - Double bottom setup - 40%+ upside possiblePrice Overview & Analysis:
1. Need more volume support.
2. Double bottom support.
3. RRR is favourable
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Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. I share whatever I do. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
DOUBLE BOTTOM ANALYSIS APCOTEXINFD 04-10-2024BUY : 463 TO 400
TARGET : 667 TO 681
Reason For Buying This Script :
In this script it has formed double bottom and it is d called as ABCD pattern in monthly time frame. One neckline barker and close above 562 and the next target up to 667.
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some months to achieve the target.
Stocks in Radar #11
In weekly, the stock is forming a inverted head and shoulder pattern. The stock is already in uptrend. The RSI is about to cross 60 and has come down from previous bullish zone.
In daily, there is a bullish crossover, and overall the volume is increasing.
In weekly also, the volume bar is above the volume moving average.
BREAKOUTIN APCOTEX IND 📌SWING TRADE FOR NEXT WEEK🚀
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📌TRADE ANALYSIS OF APCOTEX IND :-
•Breakout of symetrical pattern on WTF with strong candle
•Break counter trend line and hidden lines
•Volume increases last few weeks high
•Bullish trend/ make good structure also
•Made good price action
•Make higher highs/higher lows
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This all chatrs analysis are only for educational purposes only
I do not provide any CALL or Tips
APCOTEXIND | Swing Trade📊 DETAILS
Sector: Speciality Chemicals
Mkt Cap: 2,688 cr
Apcotex Industries Ltd is engaged in the production of various types of synthetic latex and synthetic rubber.
It was started in 1980 as a division of Asian Paints, manufacturing synthetic latex and was later spun-off as a separate company under the leadership of Mr. Atul Choksey, former MD of Asian Paints Ltd.
TTM PE : 37.85 (High PE)
Sector PE : 38.54
Beta : 0.61
📚 INSIGHTS
Mid range performer
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
11.80% away from 52 week high
Underperformer - Apcotex Industries down by -1.12% v/s NIFTY 50 down by -0.38% in last 1 month
📈 FINANCIALS
Piotroski Score of 4/9 indicates Weak Financials
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A hidden Gem Apcotex is a buy with just 5% stoplossA falling channel breakout & then it's retest is completed, today's upmove clearly says it will resume upmove and have respected the falling trendline.
SL :- 533
I earlier discovered this Gem @ 155, booked heavy profits... and waited for 1 year to re-enter.
Remember, if Crude is under control, this stock will fly..
Apcotex Industries looking strong & Hold for long
It formed a cup and handle pattern for the daily chart. The technical and fundamental indicators look strong. I have no target in it.
fundamentals
The profit and sales give had more than doubled in 2 years.
Launched new product XNBR Latex for gloves mainly catering to exports and plan to build
the capacity of 50,000 MT for this product and 35,000 MT for existing product portfolio commissioned in Q4-FY2022-23.
The Company also plans to increase capabilities for Nitrile Rubber to cater to domestic and
export markets.
High entry barriers due to proprietary product and process technology, large capex, long sales lead times and difficult-to-handle RMs.
They have a stable market position with good management.
Planned capex worth INR 100 Cr at Valia Plant to reduce costs and debottlenecking completed in June 2020.
how to trade apcotex industries?The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom pattern is observed after a significant downtrend, characterized by three consecutive price declines. The middle decline forms the lowest point, known as the "head," while the other two declines form the "shoulders" at approximately the same level, but higher than the head. The pattern's volume is highest during the initial two price declines, decreasing through the right shoulder. Ultimately, the pattern confirms a reversal to a new uptrend when the price breaks above the neckline, drawn between the two highs, accompanied by a surge in volume. This breakout marks the end of a period of accumulation at the bottom and signals a shift in the trend direction.
expected targets has been marked in chart.
Request everyone to share, like, comment this chart for educational purpose.
Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.