EID Parry Cup & Handle PatternNeed to cross 4th June High @ 699 and sustain Sugar Stock (Keep in Mind ) RSI above 60 Daily / Weekly / Monthly Support 647 Expected level 799 then 900 Longby ManojTembulkarUpdated 10
EIDPARRY | SWING | LONGPrice came out of Stage 1 and entered Stage 2. Price has completed its pullback to 20 EMA and is now ready to break its previously created ATH. Volume has also dried-up. Longby devgupta2002042
Is E.I.D. Parry (India) Limited a Good Investment Opportunity?As a trend trading technical expert, I've analyzed the recent earnings conference call of E.I.D. Parry (India) Limited, and I'm excited to share my findings with you. The company's performance in the quarter and year ended March 31, 2024, has raised some concerns, but there are also some positive signs that investors should consider. Global Sugar Market Trends The global sugar supply surplus has decreased by 421,000 metric tons, and the annual growth of global sugar consumption is now estimated at 1.2%. This trend is expected to continue, driven by higher sugar consumption estimates in China and the EU. For India, sugar production has reached approximately 314 LMT, with an additional volume of 5-6 LMT expected from Tamil Nadu and Karnataka. Company Performance The standalone revenue from operations for the quarter ended March 31, 2024, was INR717 crores, registering a decline of 11% compared to the corresponding quarter of the previous year. Earnings before depreciation, interest, and taxes (EBITDA) for the quarter was INR166 crores, and standalone profit after tax was INR80 crores. However, the company's sugar division operating performance was lower due to lower recoveries, higher cane costs, and no exports. The distillery business has also seen a change in product mix due to government policy. On the positive side, the refinery business has grown by 16%, and the spread has improved by $10 PMT, resulting in a cash profit of INR12 crores. Technical Analysis From a technical perspective, the current price of E.I.D. Parry (India) Limited is oscillating around the middle line of a long candle that formed on June 18th. This indicates a consolidation phase, which could be a buying opportunity for investors. Additionally, the price band predicted by the linear regression channel based on volume is showing a positive signal towards the trend. The current CMP (Current Market Price) of Rs.775 is a good entry point for investors who are willing to take a medium-term view. The stock has been trading within a narrow range, and a breakout above the resistance level of Rs.800 could lead to a significant upmove. Key Takeaways Global sugar market trends are favorable: The decrease in global sugar supply surplus and the increase in sugar consumption estimates are positive signs for the industry. Company performance is mixed: While the sugar division operating performance was lower, the refinery business has shown growth, and the company has forayed into the staples space. Cost reduction and efficiency measures: The company has implemented cost reduction and efficiency measures, which have resulted in improved spreads and cash profits. Technical analysis suggests a buying opportunity: The current price is oscillating around the middle line of a long candle, and the linear regression channel based on volume is showing a positive signal towards the trend. Investment Opportunity Based on the analysis, I believe that E.I.D. Parry (India) Limited presents a good investment opportunity for those who are willing to take a medium-term view. The company's exposure to the sugar industry, which is expected to benefit from global trends, is a significant advantage. Additionally, the company's efforts to reduce costs and improve efficiency are likely to pay off in the long run. However, investors should be aware of the company's challenges in the sugar division, including lower recoveries and higher cane costs. They should also monitor the company's progress in the staples space and its ability to resolve certification issues in Europe. Conclusion E.I.D. Parry (India) Limited's recent earnings conference call has presented a mixed bag of results. While the company faces challenges in its sugar division, its exposure to the global sugar market and its efforts to reduce costs and improve efficiency make it an attractive investment opportunity. Longby stocktechbot1
EID PARRY - Poised for an upmove of 30-40% Details are explained in the chart. 1) Stock is in strong uptrend 2) Stock has given a daily breakout of 2 years of consolidation 3) Stock broke out of out of cup and handle pattern 4) Narrow Range Pivots in yearly & Monthly. Longby RugminikUpdated 119
EID parry : Sugar sector breakout done and RetestedStock is trading near 52W high. Upcoming budget would be favorable for sugar sector. Ethanol blending restrictions may be removed. Good level for buying 690-735. Take time for buying (staggered manner). Stoploss the base of breakout. Target 25%Longby SWINGERTRADER1Updated 1
EIDPARRY on weekly time frameEIDPARRY gave breakout on weekly time frame but we should wait for a retest and then can go for swing. Please give your feedback in comments.Longby mystery_indian_Trader4
EID PARRY INDIA Freshly Broken 83 Weeks HighCompany has delivered good profit growth of 41.5% CAGR over last 5 years Company has been maintaining a healthy dividend payout of 19.7% Expected diversion for Ethanol in SY 2023-24 is ~ 20LMT of Sugar (against 38LMT diverted in SY 2022-23). Overall blending is 12% as of Marchβ24. E20 petrol is available at 12,000 fuel retail outlets and the government targets a pan-India rollout by 2025. Syrup/B Hy diversion to Ethanol restricted from 7 th Dec 2023 and subsequently on 15th Dec 2023, allowed 17 LMT of Sugar diversion (as B Hy) across the country. Additional 10LMT has been allowed in Aprilβ24 for supply in Q3 of FYβ25. Maximize and grow the Refined / Pharma Sugar Business β’ Health and wellness segment has been identified to focus on specialty sweetener business β’ Focusing on Brown sugar and Jaggery as alternate sweetener β’ To become a sweetening solutions provider for B2B Customers 1. Packaged staples has a large Total Addressable Market (TAM) of ~ INR 9 L Cr β’ Highly unorganised with only a few pan-India players 2. Overall branded penetration is less than 20%. β’ Significant growth expected with consumers preferences shifting towards branded products β’ Coincides with Indiaβs overall growth and expansion of the consumption class 3. Parryβs brand presence and the strong foundation laid through the sweeteners to be leveraged β’ To further build on the capability to βbrand the unbrandedβ 4. Aspiration to capture >10% of the kitchen shelf in every household in South India The Company made a pioneering leap towards community water resource management projects through its flagship Project NANNEER β’ Under the first phase, seven lakes and ponds in Oonaiyur area (Pudukkottai and Sivagangai district in TN) were desilted across 250 acres (depth of 1-3 meter) β’ Under the second phase, twelve lakes and ponds (in the Cuddalore, Tiruppur, Villupuram and Erode districts in TN) were desilted across 127 β’ The excess desilted soil was utilized to create islands in each of the water bodies. Close to 1100 Million Liters were conserved in Phase 1 and 2. β’ Currently third phase being planned in TN, KN and AP. β’ The Company aims to achieve Ten Billion liters of water holding capacity through Project NANNEER by the end of 2026. Increase in Cash Fixed Cost in FYβ24 majorly due to: β’ Manpower capability building for project expansion and new business β’ CPG infrastructure building β’ Special repairs undertaken in major plants Lower cane volume by 1.7 LMT over last year further contributed to the increase in CFC/MT Increase in cane cost, drop in recovery & yield due to climatic conditions, restriction in sugar diversion for ethanol has led to drop in EBITDA. The benefits on expansion of distillery capacities are expected to flow in FYβ25 Longby iism-ExpertTrading8
EIDPARRY horizontal BreakoutEIDPARRY has given Breakout with volume spike. this could be a possible swing trade.Longby Mystique_Trader0
CUP AND HANDLE BREAKOUTstock can show a good upside momentum buy with a sl 615 clbs and targets of 870.Longby swayamnawal31
SWING IDEA - EID PARRY INDIAExploring the technical landscape, our focus shifts to Eid Parry India - a stalwart in the agribusiness sector. Let's delve into the pivotal factors shaping this enticing scenario. Reasons are listed below : Eid Parry India has revisited the critical level of 630, marking its all-time high, and is now positioned to potentially break through this significant barrier. A robust bullish marubozu candle on the weekly timeframe signals strength and conviction, reinforcing the bullish sentiment surrounding the stock. Following a resilient consolidation phase lasting over a year, Eid Parry India is indicating signs of a breakout, adding an extra layer of potential momentum. The formation of higher highs underscores the stock's upward trajectory, highlighting the persistence of a positive trend. Increased volume activity aligns with recent price movements, amplifying the potential impact of the stock's upward momentum. Trading above both the 50-day and 200-day Exponential Moving Averages (EMAs), Eid Parry India demonstrates a solid trend, providing additional confidence for a potential swing trade. Target - 733 // 815 StopLoss - weekly close below 558 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insightsLongby Visionary_Growth_InsightsUpdated 4
EIDPARRY getting ready to break ATHTake long position once its break All time high. already sugar stocks posting good results this quarterLongby rameshavutu3
Trade Idea in EID Parry π Hey there! Ready to dive into the trading game? I'm your go-to Technical Analyst for some cool trade observations and trading wisdom. Just a heads up, my recommendations are all about learning and watching β no pressure to jump in. Let's break down those charts and turn them into some savvy trading know-how. Ready for a laid-back but enlightening journey through the markets? Let's do it! πβ¨ NSE:EIDPARRY Longby LeonCallz2
breakout from support zone ready for an up movebreakout from support zone ready for an up move only for learning and educational purpose. Longby bhaweshintouch0
Accumulate EidParry during sugar ethanol blending crashAccumulate eidparry with good fundamentals Good promoter group market cap of 9.5 crs P/E ratio-10 Book value-1.5 times Roe-16% Dividend yield-1.75 times Sales growth-16 to 18% Longby Accuratetradinggroup0
EIDPARRY DAILY CHARTEIDPARRY DAILY CHART Cmp 522.25 Target 579 Support 500 EIDPARRY has witnessed a trend line breakout, post retesting the line, making a classic bull case. It's only an observation & not any suggestion.Longby UnknownUnicorn4824761Updated 229
Analysis of EIDPARRY1. Support at Rising Trendline: The candle on the weekly chart indicates that the stock has found support at a rising trendline. This signifies a potential area of increased buying interest, reflecting a positive sentiment. 2. RSI Signals: The Relative Strength Index (RSI) is displaying positive divergence and showing good support. Positive divergence might indicate a potential shift in momentum and could support the bullish case for the stock. Proposed Trade Strategy: Entry: Considering a long position at the current market price (CMP) of 492, based on the support from the rising trendline and the positive RSI indications. Stop Loss (SL): Implementing a stop loss at 453 can serve as a safeguard against adverse price movements and potential losses. Target: A target price of 562 is suggested. This target is aligned with the bullish signals identified from the rising trendline support and the positive RSI divergence. Conclusion: The technical analysis suggests a bullish outlook for EIDPARRY based on the candle finding support at the rising trendline and the RSI showing positive divergence. Please remember that investing in the stock market carries inherent risks. Market conditions are subject to change, and it's essential to conduct thorough research, employ risk management strategies, and consider seeking guidance from a financial advisor before making any investment decisions.Longby yaashulUpdated 0
EIDPARRYNSE:EIDPARRY EIDPARRY volume Breakout either wait for retest level near 519 or take your position support 519 sl 495 rsi is above 70 swing tradeLongby parimalkr20000
ππ° "Sweet Returns: EIDPARRY with a 1:5 R:R" π¬πβ³ Time to Savor Success! Act Now to Embrace EIDPARRY's Bullish Investment Trade Idea and Unlock Sweet Returns! ππΌπ¬ π₯ Don't let the clock tick away; it's time to seize the opportunity and savor the journey towards profitable returns. EIDPARRY's bullish investment trade idea offers you the chance to indulge in a potential treasure trove of sweet gains! ππͺβ¨ π‘ Embrace the power of research-driven investing, aligning with EIDPARRY's upward momentum in the market. With its 1:5 risk-to-reward ratio, this trade idea is a delightful blend of calculated risk and promising rewards, designed to sweeten your portfolio. ππ°π π Make well-informed investment decisions, leveraging comprehensive market analysis and strategic insights. Position yourself expertly to bask in the sweet spot of this investment opportunity. πΌπ‘π π¬ Like and share if you're ready to indulge in a delectable journey towards financial success with EIDPARRY's bullish trade idea! Let's inspire traders to savor the sweetness of rewarding investments and make their portfolios flourish. πππΈLongby iBullVenturesUpdated 11
EID ParryThe chart appears to be displaying a bullish pattern as the candle breaks through both the descending trendline and Gann levels, accompanied by significant trading volumes. Here are some notable advantages: 1. Robust trading volumes. 2. Successful breakout above Gann levels. 3. Government initiatives related to ethanol, which could positively impact the situation.Longby happyvegan10111
Eid Parry Double Dip In Buying Zone with DivergenceEID Parry with increasing promoter holding and signs of strength in the chart is a buying opportunity. Buy Price 480 Qty 25 Target 600+ Long Term 1-2 YearsLongby KachraStocksUpdated 4
Eid Parry trying to parry out of tough timesE.I.D. Parry (India) Ltd. is engaged in the business of Sugar and Nutraceuticals. The company is amongst the leading sugar manufacturers in India, E.I.D. Parryβs 9 sugar plants are spread across South India. It is also a part of the INR 369 Billion Murugappa Group, one of Indiaβs leading business conglomerate. E.I.D. Parry (India) CMP is 480.70. Negative aspects of the company are declining annual net profits, promoter decreasing stake, FIIs are decreasing stake and MFs are decreasing stake. Positive aspects of the company are no debt and improving cash from operations annual. Entry after closing above 488. Target of the call will be 507 and 546. Long term targets in the stock will be 584 and 629. Stop loss in the stock should be maintained at closing below 435.Longby Happy_Candles_Investment2
EIDPARRY BUY SETUP As per my analysis NSE:EIDPARRY has been a bullish breakout on 4 hours range consolidation. Re-test level of 463-465 could be best buy opportunity with stop loss of 453 (-10 or 12 points risk). My expected upside target would be 474 (+11), 481 (+18) & 497 (+34). Note: This is my personal analysis, only to learn stock market behavior. Thanks.Longby thetradeterminal221
#EIDPARRYEIDPARRY consider taking a long entry on this trade once its closing price is above the trendline.Longby rameshavutu1