BANSWRAS trade ideas
Banswara SyntexBreakout of the long term trend line and the double bottom breakout+retest is completed.
Latest candle is forming a bullish Marubozu above the critical gann levels.
SL below 140 and the targets are the gann levels marked as blue horizontal lines.
Banswara Syntex - Upside Banswara Syntex CMP - 146.55
Buy At or Above 146 ONLY / Strict Stop Loss 136
Target 1 - 170
Target 2 - 185
Disclaimer: This is my view and for educational purpose only. Trade according to your risk and am not responsible for your loss.
Banswara SyntexFollow up chart,
Stock gave nice breakout, made a high of 180, now after profit booking / re test facing resistance again at 160, above than can make 180 again.
BANSWARASYNTEXCompany has strong fundamentals, shown good strength at above 160 today. book value is around 233, trading at undrvalued levels,
Can reach towards book value and trade 1.5 of bvps in coming years.
Has good business and good client. capex done in new plant in daman
Resistance BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
Please consider these ideas for educational purpose
Comment below if you are looking for any answers.
Banswara syntexBanswara syntex forming a triangle pattern
Swing traders can buy at current levels and can keep adding on dips
Add on dips till 155
Sl 148
Small hurdle at 173 if 173 taken out
Hold for tgt of 190 215
Ask your financial advisor before buying
Only for educational purposes
Momentum Pick - Banswara SyntexThis stock looks like re-claiming its high on weekly TF. Steady gains on daily basis continued with conviction suggest its move! There is a small hurdle of 150 & then it may see crossing its high 158 soon.
This is not a buy suggestion, its only for education purpose!
BANSWRASNSE:BANSWRAS
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
banswaraBan On Chinese Cotton by United states
The USA house of representatives has officially *passed a bill banning all imports of cotton* from the Xinjiang region of China on acocunt of human rights violations.
The Xinjiang region produces nearly 20% of the world's cotton & 84% of China's cotton. The bill will now move onto the senate and then to the President of USA for it to be officially signed into USA law.
*Pakistan exports reduce:* Pakistan too is facing trouble in its textiles exports owing to various domestic problems such as energy crisis due to delayed imports of gas and depreciated value of the Pakistani rupee which has led to high costs of fuel imports raising the cost of production.
Overall these developments bodes extremely well for the textiles players in #india as *combined with this there is also textiles parks on the anvil from the government of India and #plischeme will provide export incentives to the Indian companies to make them globally competitive.*
However, owing to the dramatic run up of cotton prices across the world including India (cotton prices up more than 50% in India currently as compared to last year cotton season) *and also the yarn prices lagging the commensurate increase as compared to last quarter would lead to margin squeeze qoq,* the players to benefit the most from these developments will be the *vertically integrated textile players like $K.P.R. Mill Ltd. , A$ $Arvind Ltd. ., B $Banswara Syntex Ltd. etc and pure convertor companies like $Gokaldas Exports Ltd. .* However cotton spinners may not benefit from the same.
Looking at benefit from all these, the other players are looking to acquire small players like $Sintex Industries Ltd. where four major players like $Reliance Industries Ltd. $Welspun India Ltd. etc are in a foray for the same.
BANSWRAS NSE BULLISHVIEW ABOVE 260BANSWRAS NSE Banswara Syntex bullish if 260 holds. New Lifetime High. Positive Trend. Fresh Breakout.
***** Educational Purpose Only. Not Buy/ Sell Recommendation.
