SWING IDEA - PUNJABCHEMStock has been on Lower High Lower Low Pattern since mid 2021.
New Higher High and Higher Low Pattern seems to be in play since May 2023.
Could the stock be following the new Trendline and go further upward?
If all is well, the stock could visit until the next Support/Resistance zone.
PUNJABCHEM trade ideas
Punjab ChemLooking really good for a reversal rally towards 1600-2000-2500
First target is expected to be reached with very few hiccups as the sector itself is moving quote nicely.
Monthly candle has given a convincing Breakout of the important Gann levels and bullish flagout bouncing back from the key levels(1/1 Gann Fann angle zone)
Monthly Macd crossover being done and volumes almost reaching to the levels in 2020 and 2021
SL - 1100
Punjab Chemicals & Crop Protection LtdTARGETS AND STOPLOSS IN CHART
Market Cap
₹ 1,114 Cr.
Current Price
₹ 908
Stock P/E
18.2
Book Value
₹ 229
Dividend Yield
0.32 %
ROCE
30.9 %
ROE
24.2 %
Face Value
₹ 10.0
Promoter holding
39.2 %
EPS last year
₹ 49.8
EPS latest quarter
₹ 2.61
Debt
₹ 94.0 Cr.
Pledged percentage
0.00 %
Net CF
₹ 0.32 Cr.
Price to Cash Flow
19.2
Free Cash Flow
₹ 22.1 Cr.
Debt to equity
0.33
OPM last year
12.2 %
OPM 5Year
12.3 %
Reserves
₹ 268 Cr.
Price to book value
3.95
Int Coverage
5.95
PEG Ratio
0.60
Volume
26,407
Price to Sales
1.11
PUNJAB CHEMICALS - WEEKLY TIME FRAMEHi there,
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy