Breaking outGood consolidate and given BO with volume
Next level of resistance is 2095-2320
Good support level is 1600-1430
Fire above 1660 level.
ROLEXRINGS trade ideas
ROLEXRINGS Trading Within Demand Zone of ₹2268-₹2212.05ROLEXRINGS is currently priced at ₹2251.2, moving near a fresh demand zone between ₹2268 and ₹2212.05. This area has not been tested, indicating potential for new buying interest. Investors may watch for upward movement towards the upper end of the zone or possible support near the lower boundary.
Rolex Rings Strong Breakout Above Key Resistance: Keep In Radar
Rolex Rings has given a strong breakout above the key resistance level of 2650, supported by high volumes, indicating significant buying interest. The stock has been trading above its 100 EMA and maintaining a steady uptrend. With RSI trending positively and volume spikes confirming the breakout, further upside towards ₹2,800-3,000 seems likely in the short term. Traders should look for continued momentum and watch for retests near the ₹2,650 level as potential entry points.
Volatility Contraction Pattern (VCP) in ROLEXRINGSVCP pattern in Daily time frame is developing in ROLEXRINGS
The Volatility Contraction Pattern (VCP) is a technical chart pattern often used in share trading to identify stocks that are preparing for a breakout.
Key points from analysis:
Lower high LH is formed
RSI monthly and Weekly above 60 - indicating strong momentum .
Share holding pattern - Public- 7.34% only , FII 6.99% and DII 30.43%
VCP development: The stock is exhibiting volatility contraction, typically seen before a potential breakout. More than one VCP may require before the actual breakout.
Cautionary note: VCPs can fail, so this is not a recommendation to buy or sell, but rather a signal to watch the stock for future trading opportunities.
It's essential to monitor the stock in the coming days to see if the price action fits your entry criteria and aligns with your strategy.
disclaimer :This is not a buy sell recommendation - only for study purpose .
Rolex Rings 21-09-23. Expected Downmove.Rolex rings showing weekly bearish divergence and Daily bearish divergence. Expected direction is downwards.
Buy Rolexrings- Reversal from BO retest on daily chart.
- Trend reversal confirmed above 2205 level
- RSI given early BO today
Have you ever heard ROLEX RINGS gives you WIIINGS?- Company has reduced debt.
- Company has delivered good profit growth of 21.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.3%
- Annual Revenue rose 16.5%, in the last year to Rs 1,198.3 Crores. Its sector's average revenue growth for the last fiscal year was 26%.
- Quarterly Revenue rose 8.6% YoY to Rs 313.7 Crores. Its sector's average revenue growth YoY for the quarter was 23.1%.
- PE Ratio is 29.9, lower than its sector PE ratio of 36.3.
- FII and DII holding increased last quarter.
Rolex Rings is a leading manufacturer of forged and machined components in India and is one of the top 5 forging companies in India. The company is a Global supplier of hot rolled forged, machined bearing rings and automotive components for various segments of vehicles, Industrial Machinery, Wind Turbines and Railways.
The company derives nearly 54% of its revenue from bearing rings and 38% from automotive components.
The company exports its products bearing rings and automotive components to 17 different countries including France, Italy, Germany, Thailand, Czech Republic, USA, and others. Exports contributed 46% of the revenue of the company.
The company supplies to automotive companies and leading bearing manufacturers such as SRF India, Schaeffler India, Timken India, etc. Top 10 customers accounted for 80% revenue of the company
Short term trade with Rolex ringsStock in constrained up trend
Higher high and higher low movement
Probability of a short term trade with Risk-reward ratio of 1.7
Target and stop loss mentioned in the chart
Not a recommendation, for study only
Positional BetThis is my trading journal, not a trade recommendation. Idea presented only for educational purposes for me and others who want to benefit from my experience.
DISCLAIMER:
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.
Rolex Rings BreakoutNSE:ROLEXRINGS has given a solid breakout and now one can go long in this position by keeping a stop loss at 2150. It gave an initial breakout and then took out the previous high which makes this breakout more interesting and strong.
ROLEXRINGS - Weekly AnalysisIn the Weekly Chart of ROLEXRINGS ,
we can see that; it has given breakout from Cup & Handle Pattern.
Let it retest.
Expected momentum is shown in chart.
#SHORTTERM #SWING #NSE ROLEXRINGRolex Rings is a leading manufacturer of forged and machined components, one of the top 5 forging companies in India and is also a Global supplier of hot rolled forged, machined bearing rings and automotive components for various segments of vehicles, Industrial Machinery, Wind Turbines and Railways.
It derives nearly 54% of its revenue from bearing rings and 38% from automotive components. Exports contributed 46% of the revenue of the company.
Top 10 customers accounted for 80% revenue of the company.
The company is not planning any major CAPEX till FY25. They will be focusing on enhancing their revenue by increasing the forging utilization to 60% and machining capacity to 85% in the near future.
Market Cap: 5,580 Cr.
P/E 29.2
ROCE 31.3 %
ROE 28.9 %
Debt to equity 0.27
OPM 22.3 %
Promoter holding 57.6 %
Pledged 0 %
EPS 70
ROLEXRINGS Swing Trade1. Bullish Engulfing on Weekly TF.
2. Made Higher Low around 1700 levels.
3. Doji followed up with Bullish candle (where Open = Low).
4. a. Very good Risk to Reward (about 1:3) in short term.
b. Risk: Reward - 1:5 in longer time frame
CNHcup completed and vol emergence in RH side.
shakeout done twice and at ATAH...
out performing index also recipe for good rewards
Rolex Rings Rolex Rings - Good technical chart. Auto sector looking strong..can show good return in coming months
ROLEXRINGS: At Breakout of 3rd PC | Target 2300 (15%+ Upside)Another Script supporting wonders of PC ( Parallel Channel ) #WondersOfPC
ROLEXRINGS (CMP: 19699.15)
--> ALL 3 Parallel Channels namely PC-A, PC-B & PC-C are of SAME WIDTH & SLOPE !!
Isn't it wonderous!!
Current Status:
-At breakout level of PC-C Upper line
-If the coming days candle goes above 1895-1900, it will be confirming BO
-And if not, it will test the midline at 1875-1880, better entry point
-Recently shown huge buying volume
-For Swing Trade
Entry1-2000, SL-1860 (If BO confirms before tests midline again)
Entry2-1900, SL-1829( If comes to test midline)
ST Target-2300, then 2600
For LT holding purpose script has strengths in fundaments, good pick for portfolio buildup
#RolexRings case study when resistance line turns into support#RolexRings tried to cross 1350 levels three time in 6 months of 2022 and as successful in doing that 3rd time. After which it gave 40%+ return in 2 months
Target 1 achieved in ROLEXRINGS, Gain of 25%, Target 2 is ON..NSE:ROLEXRINGS
Here is the Previous Chart:
Chart is self explanatory. Levels of breakout, possible upmove where stock may find resistance and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Retracement Plus Trendline Breakout.PLEASE WATCH MY ANALYSIS ON INDEX TO GET MORE CLARITY ON MY ENTRY. (Available in my profile)
1 Day Timeframe
- Good breakout, retracement + bullish candle
1 Hr timeframe
- Good trendline formation
15min
-Consolidation and breakout. Chance for a small retracement.
MY ENTRY ONLY IF
1hr candle closes above prior high + Nifty bullish indication (Please watch my analysis on index to get clarity on my entry)
"This is not a call, this is just my view on the stock. Please trade sensibly"
Follow me on trading view to get more ideas like this.
Rolex RingsRolex Rings analysis technical but also reflecting on news.
RR commands an overall market share of 32%.
Revenue is div into Domestic 42%, Exports: 58%
Expecting a strong upside if stays above the indicated line.
