PODDARMENT trade ideas
SWING TUTORIAL - PODDARMENTIn this tutorial, we analyzes the reversal of NSE:PODDARMENT 's 50% decline, identifying key technical indicators that signaled a buying opportunity. We'll explore how to recognize bullish momentum and optimal entry points using chart analysis.
NSE:PODDARMENT reached its all-time high before experiencing a significant downturn. However, the stock began forming support levels at 250 in June 2023 and repeatedly retested this level until June 2024.
Key Observations:
1. Support Levels: The stock consistently found support at ₹250, indicating a potential reversal.
2. MACD Indicator: The Moving Average Convergence Divergence (MACD) line showed steady upward momentum, signaling increasing bullish pressure.
3. Consolidation: Price action demonstrated a consolidation phase, forming a strong support zone.
4. MACD Crossover: The successful crossover in June 2024 confirmed the bullish trend, creating an entry opportunity.
Trading Strategy and Results:
Based on this analysis, our entry point was established at the MACD crossover. The stock subsequently rose to its swing high levels, yielding approximately 67% returns.
Note: This case study demonstrates the effectiveness of combining technical indicators to identify bullish momentum. By recognizing support levels, MACD movements, and consolidation patterns, traders can pinpoint potential entry points.
Would you like to explore more technical analysis concepts or case studies? Share your feedback and suggestions in the comments section below.
Stock of the Week: Poddar Pigments with Robust Financial HealthStock of the Week: Poddar Pigments ( NSE:PODDARMENT PODR)
Fundamental Analysis :
Poddar Pigments showcases a robust financial profile, making it an attractive pick for this week. The company holds more cash than debt on its balance sheet, indicating strong liquidity. Its liquid assets exceed any obligations, providing a solid financial cushion. Additionally, NSE:PODDARMENT Poddar Pigments has reported consistent profits over the last six quarters, highlighting its stable and reliable performance.
Technical Analysis :
From a technical perspective, NSE:PODDARMENT Poddar Pigments is trading above all major moving averages, signalling a bullish trend. The stock has achieved a significant 52-week breakout and is also breaking out of a box formed by the last 12 months’ consolidation zone. This breakout is supported by good volume strikes, indicating strong market interest. Moreover, Poddar Pigments demonstrates relatively higher strength than the Nifty index, with the RSI crossing above 60, further affirming its upward momentum.
Entry - CMP
Stop loss - 396.55
Potential upside - 643
#PODDARMENT 399 TGT 600 #NIFTY #BANKNIFTY #Stocktowatch #stocksNSE:PODDARMENT 399
TGT 600
SL 350
Timeframe < 6M
RR is good enough.
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
Poddar Pigments PPL is an ISO 9001:2015 Quality Management System certified manufacturer of Color and Additive Masterbatches for dope-dyeing of man-made fibres (MMF), various polymer applications and engineering plastics and compounds. It is the first Indian company to manufacture Masterbatches for dope-dyeing of Polypropylene, Nylon, and Polyester Multi-filament Yarn /Fibers. Company also produces a range of smart products, which impart various forms of functionality to the end products,
be it textiles or plastics
I am very BullishI am bullish if this weekly breakout happen.... i am bias ... do ur own research before investing or trading
