INVESTMENT IDEA - PAGE INDUSTRIES

Page Industries presents a compelling investment opportunity, supported by both technical indicators and robust fundamentals.

Reasons are listed below :

Technical strengths :

• The psychological level of 35,000 has shifted from a resistance point to a strong support level, reflecting market confidence in the company's prospects.
  
• The formation of a hammer candlestick pattern on the weekly chart signals a potential reversal from a downtrend, indicating buyer support at lower price levels.
  
• Finding support at the 0.5 Fibonacci retracement level suggests a healthy correction within an overall uptrend, reinforcing investor confidence.
  
• Page Industries' stock price is supported by the 200 Exponential Moving Average (EMA) on the weekly timeframe, highlighting its stability even during market fluctuations.
  

Fundamental Strengths:

• With well-established brands like Jockey and Speedo, Page Industries maintains a competitive edge and market leadership.
  
• Consistent revenue growth and profitability underscore the company's financial health and prudent management.
  
• Strategic partnerships and expansion efforts enhance Page Industries' market presence and growth prospects.
  
• Page Industries' focus on product quality, innovation, and customer satisfaction ensures its offerings remain relevant and competitive.
  

Target - 43000 // 53000 // 67000
Stoploss - monthly close below 27000

Comment:

Price is consolidating, we can expect a up move if it sustains above 36160

Comment:

Achieved 5%++

Comment:

A strong engulfing candle is formed, hold!