ASTRAL trade ideas
Astral Polytechnik - buy here for a smart 15% upmove.Profile -
Astral Poly Technik is engaged in the production of plastic products. The company and its subsidiaries are engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions
Market News & Views -
The Indian Plastic Pipe Industry is likely to grow faster, driven by government' s initiatives like - Housing for All by 2022, Nal Se Jal by 2024, Project Amrut & Swachh Bharat Mission. Also, the current bans imposed on Chinese Plastic Products will add to the demand of Indian Plastic products Manufacturers. The 3rd part of the 5 part Stimulus Package annouced by government for Agri & Housing Sector is likely to beefit the PVC Pipes segment. Most of the leading Broking Houses are receommending to buy Astral with a investment horizon of 2 yrs.
Technical View -
The stock is forming a Triangle breakout on the upside with 100 DMA coinciding right at the breakout points. The Stock has managed to close above the Triangle and 100 DMA for last 2 days which is a positive sign. For Short term Traders, the trade is to buy with a stop loss of 930 for a target of 1060 and 1150. Positional Investors can buy this stock in trunches on every decline till 800 levels.
Entry above 1240Astral Polyteck - Entry above 1240
past 3 years average sales 13.66%
past 3 years average profits 32.33%
past 3 years average margins 7%
April month has seen very low volume shakeout, looks like the supply coming to the market has eased. we may see a good upmove if price sustains above 124/1260
Astral BreakdownAstral Poly is one of the strongest midcap stocks fundamentally. The price has defied market trend over the last 1 year and is trading close to all time highs.
A technical breakdown has taken place today and we can see the stock correct down by 10% and more. The uptrend of the last few months seems to have broken and the strong momentum that pushed the stock up looks over for now.