Diamond Positional Trade Setup: Prataap Snacks Ltd(NSE: DIAMOND)Current Price: ₹1,253.30 (+7.71% rally)
Key Levels:
Support: ₹1,183 (Recent Swing Low)
Resistance: ₹1,269 (Immediate) → ₹1,400 (Next Target)
Trend Indicators:
TEMA (5,9,20): Bullish alignment (short-term momentum).
SuperTrend (10,3): Green line → Uptrend confirmation.
Price Action: Strong bounce from ₹1,183, now testing ₹1,253.
Fundamental Checks (Screener.in Recommended)
Sector: FMCG (Snacks - High Growth Potential)
Debt-to-Equity: Check if <0.5 (Low Debt Preferred)
Revenue Growth: Look for consistent 10%+ quarterly growth.
Margins: Stable/expanding operating margins (~10-15%).
Positional Trade Plan
✅ Entry Zone: ₹1,230-1,250 (Dip near support)
🛑 Stop-Loss: ₹1,180 (Below recent swing low)
🎯 Targets:
₹1,400 (12% upside)
₹1,500 (20% upside – Trail SL)
⏳ Holding Period: 3-6 months (FMCG stocks trend steadily).
Confirmation Signals
Volume: Surge above 20-day avg volume on breakout.
Sector Tailwinds: Monsoon impact on raw material costs (potatoes/oil).
Earnings Date: Check Screener.in for upcoming results.
Risk Management
Avoid if Nifty FMCG index is under pressure.
Exit if price closes below SuperTrend line.
Final Verdict: Strong technical rebound + FMCG resilience = Solid positional trade. Always pair with fundamentals!
