Stock is gaining strength against SMALCAP index and has been under performing since long while testing a long time resistance of 321 to 337. Breakout possibilities are increasing as stock is refusing to go down and getting continuous on 270. Supply is being consumed on higher levels to consolidate stock in fewer hands.
After a false brekout at major trend line, stock has fallen bellow the trend line and trading near a multiple supports moving averages, trend line and the candle stick shows the rejection from lower levels. stock can be accumulated with the stop loss of 290 with a target of around 340 or more
Weekly close above 325, will take this MNC stock to ATH. Today only it gave almost 7% move. Specialised in paper/packaging solutions, this is the company whose value needs to be discovered by the market.
Huhtamaki India Ltd. operates as a packaging company, which engages in manufacturing and sale of flexible packaging material. It offers packaging for food, beverages, pet-food, healthcare, personal care & household, tube laminates, labels, promotion & security, specialized pouches and thermoform products. The company was founded in1935 and is headquartered in Mumbai, India.
NSE
