ASTRAL trade ideas
Astral trying to break the shackles Astral limited started as a plumbing and drainage solutions providing company The company is today a big name in manufacturing pipes, drainage and water storage tanks used in real estate projects. Post the success company has forayed into diverse product range from ancillary (clamps & hangers) to industrial pipes.
CMP of the stock is 1483.50. Negatives of the company are High valuation (P.E. = 101.2), Declining quarterly net profit and FIIs decreasing stake. Positives of the company are no debt, zero promoter pledge, improving annual net profit & MFS are increasing stake.
Entry in the stock can be taken after closing above 1501. Target will be 1154 and 1657. Long term target will be 1700+. Stop loss in the stock should be kept at a closing below 1383.
ASTRAL - Bullish Candle with VolumesNSE: ASTRAL is closing with a bullish candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Disclaimer:
This is for educational purposes only.
ASTRAL - ROUNDING BOTTOM📊 Script: ASTRAL (ASTRAL LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500
📊 Sector: Capital Goods
📊 Industry: Plastic Products - Industrial
📈 ASTRAL is going to break the resistance and forming round bottom.
📈 MACD is already in positive crossover.
📈 Already crossover at Double Moving Average.
📈 Right now RSI is around 80.
✅ Buy above - 2000
🟢 Target 🎯🏆 - 2215
⚠️ Stoploss ☠️🚫 - 1900
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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