ElectcastThese are swing ideas which you can add your watchlist and analysis for yourself !
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This I am not sebi ragister I
ELECTCAST trade ideas
2 months tight breakoutThe stock crossed the 2007 high and then after the stock corrected for 2 months and broke out today, the stock is fundamentally good. It is very interesting to see how this stock is going to perform.
ELECTROSTEEL CASTNSE:ELECTCAST (1D)
CMP : 114.45
• Hovering Near All time High above all KMA
• can see New All time High soon
• Price corrected approx 11% from All time High
• Formed a Base Taking Support of KMA
Sector : Automobile & Ancillaries
Industry : Casting / Forgings
Market Cap : 6,805.26 cr.
Category : Small Cap
PE : 16.31
Industry PE : 27.65
PEG : 0.79
About Company
Electrosteel Castings (ECL), incorporated in 1955, is engaged manufacturing solutions for water supply and sewerage systems. Products and services: (1) Ductile Iron Pipes- The company is largest manufacturer in India and one of the few manufacturer in the world of ductile iron ("DI") spun pipes. These pipes have application in transmission of water, gas and industrial effluent, fire- fighting system and many more. (2) Ductile Iron Fitting- The company is engaged in manufacturing of socket and spigot push-on joints, mechanical flexible joints and flanged joints. (3) Turnkey Projects- ECL also undertakes infrastructure projects such as municipal water supply pipeline contracts and integrated water supply contracts on EPC (Engineering, Procurement & Construction) basis.
Electrosteel Castings (ECL), incorporated in 1955, is engaged manufacturing solutions for water supply and sewerage systems.
Growing from strength to strength over half a century, Electrosteel Castings Limited is inspired by a strong legacy and motivated by the vision to remain world-class through a focus on quality products and quality services. Today the Company is India's leading pipeline solution. provider. It has a strong brand presence around the globe and has one prevailing aim to remain the first choice in the market segment by becoming an international benchmark. An industry pioneer in India, Electrosteel has always remained the distinct choice for water engineers and domain experts in Ductile Iron Pipes and Fittings.
Apart from meeting the growing demand for DI Pipes in India successfully, Electrosteel has established a strong foothold in the international markets. It caters to a large. customer base in 35 countries spread across the Indian subcontinent, South East Asia and the Middle East, Europe, USA, South America and Africa. ECL has been certified for ISO 9001: 2000 standard by different bodies such as IRQS and BSI for the manufacture of DI pipes for water, sewerage, gas and ash transportation. Electrosteel has been accorded the status of a three star export house in accordance with the provisions of the exim policy.
The company has clientele in Europe, the Gulf, Southeast Asia and Africa.
In 2011 Electrosteel entered into Joint Venture Agreement (JV) with Dart Energy Ltd.
Products and services
Ductile Iron Pipes. The company is largest manufacturer in India and one of the few manufacturer in the world of ductile iron ("DI") spun pipes. These pipes have application in transmission of water, gas and industrial effluent, fire-fighting system and many more.
Ductile Iron Fitting The company is engaged in manufacturing of socket and spigot push-on joints, mechanical flexible joints and flanged joints.
Turnkey Projects ECL also undertakes infrastructure projects such as municipal water supply pipeline contracts and integrated water supply contracts on EPC (Engineering, Procurement & Construction) basis. Presently the company is involved in contracts located Rajasthan, Jammu & Kashmir, Delhi, MP, Gujarat, Kerala and Karnataka.
Electrosteel cast Long PositionNSE:ELECTCAST Looks good for now.
Disclaimer:
My ideas are not for recommendation purpose. I am just sharing my idea to share with community.
Buy ELECTCASTRelatively outperforming, target 80+
This is also one of the stocks from Fundamentally Strong India's Pipeline Network Expansion story
(Includes Jindalsaw, Ratnamani, APLAPOLLO, WelspunCorp)
Necklace Pattern-Electcast SteelAny Idea about this Stock? Guess What -
Huge Volume whooping 50M+ Accumulated by institutional buyers over last 3-6 months.
Strong resistance near 200 MA
200 MA Break out.
Silent for some weeks, eliminating weak hands!
Necklace completion at 101 level, CMP around 59
Guess the Move ahead!
Electrosteel CastLooks good after a long term BO above Gann box level and Entered New Fann Angle too.
ELECTROSTEEL CAST - AN INVESTMENT PICKHEY FRIENDS,
Here I am sharing my views on ELECTROSTEEL CAST (NSE).
First we understand the overall past structure of this stock as per ELLIOT WAVE counts.
The stock was in double correction phase in the Wave structure as WXY which is now completed and now we are in Impulse wave structure of 1-2-3-4-5, in which Wave 1 and 2 are completed and now we are unfolding bigger wave 3 of impulse wave 1-2-3-4-5.
The overall structure is given below
Now as per price action and chart patterns, the stock has given a breakout of FLAG N POLE Chart Pattern with good intensity of volume in weekly time frame.
This pattern suggest that the stock may move towards north approx. to the size of pole.
As we see that there is bullish bias for this stock, the supporting indicators such as MACD, BOLLINGER BANDS and DIRECTIONAL MOVEMENT INDEX are also in our favor in double time frame.
MACD in Daily Time Frame - Positive Uptick
MACD in Weekly Time Frame - Positive Uptick
At the time of Breakout, the Price is Challenging Upper Bollinger Band
Directional Movement Index is also Positive Uptick in weekly time frame
Summary-
The Stock is in Uptrend and now this stock is ready as BUY ON DIPS so one can add this stock in their portfolio at any dip you get with the Stoploss of 26.50 RS
Thank you
-KARAN DINGRA
DISCLAIMER -
I am not a SEBI registered analyst.
All my studies are for educational purpose.
I am not responsible for any kind of your profits and losses.
Trendline 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%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Electrosteel Casting Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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elec cast steel - penny stockPE 11, no excessive debt, price below 1.5 times book value , intrinsic value of 57
for education purposes only
ELECTROSTEEL CMP 38Form a good base for around 8-9 months, ready for jalwa soon. Expecting double from here in short term.
