Prince Pipes
Price is falling but RSI stabilized from some sessions.
It might become a falling knife too.
Other pipe companies like Astral, Finolex Industries Ltd are not looking weak.
May be we will see a news that some large player completely exited and selling is happening all this while.
I am not trading in this, do not have enough capital to bet. Just...
Its near its 52 Week low.
Promoter Holding is good & No promoter Pledged.
Below 200 EMA on weekly chart (White Line).
Demand Zones are marked as Green shaded horizontal areas.
Resistances are marked as red horizontal lines.
Stoploss is marked as orange horizontal line.
Reduction in debt & debt is less than reserves.
Levels:-
Buy 510 - 400
Stoploss 360
tgt 735 -...
📊 DETAILS
Sector: Plastics - Tubes/Pipes/Hoses & Fittings
Mkt Cap: 8,121 cr
Prince Pipes and Fittings Limited is an integrated piping solution & multi polymer manufacturer. It was established in 1987 and initially manufactured PVC products. It is currently engaged in the manufacturing of polymer piping solutions in four types of polymers CPVC, UPVC, HDPE,...
PRINCEPIPE - Price action Explained
+ Go through the Chart for more Understanding
+ Spending time at the resistance with low Volume
+ Trading above Key EMAs
Prince pipe witnessed a fresh breakout.
Multiple breakouts on weekly charts (Inverted Head & Shoulder) & (Flag & Pole)
Breakout coming after 2021, likely to open for an upside till 1000+ levels
I have but view on Prince pipe with the target of 1000 plus in long term view . We can easy see cup and handle breakout on the chart . And this quarter result are excellent.
Levels have been marked on 1H Chart with white and red horizontal lines respectively. Please adhere to them.
Disclaimer: I am not a SEBI Registered Analyst and this is only for educational purposes. I will not be responsible for any of your profits or losses. Please consult your financial advisor before making any decision.
BUY - PRINCE PIPES FITTINGS LTD
CMP - Rs. 711
Target - 1: Rs. 896
Target - 2: Rs. 1113
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Timeframe - 4 months - 8 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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#Princepipe is forming a rounding bottom bottom after consolidating for 52 weeks. Looking good to buy at these levels for 730/775/830 with SL of 650 on closing basis. Please do ur own study before any investment.
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula: - Stop Loss Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion...
Price has been on increasing trend from past many weeks. 550 price level has good demand and multiple touch points can be seen on support line. 55W RS increasing and may cross above zero line.
