SHANKARA trade ideas
SHANKARAHi guys,
In this chart i Found a Demand Zone in SHANKARA CHART for Positional entry,
Observed these Levels based on price action and Demand & Supply.
*Don't Take any trades based on this Picture.
... because this chart is for educational purpose only not for Buy or Sell Recommendation..
Thank you
LONG SHANKARAShankara Building Products is one of the India's leading organized retailer of home
improvement and building products in India. The Parent and its subsidiaries (together
referred to as “the Group”) caters to a large customer base spread across various enduser segments in urban and semi-urban markets through a retail led, multi-channel
sales approach complemented by processing facilities, supply chain and logistics
facilities.
The infrastructure market is assumed to double in the next 5 years and this stock is
expected to deliver ample returns during the growth period.
Shankara seems to be laying a strong foundation. Shankara Building Projects Ltd. CMP – 756.60
Market Capitalization Rs 1,834.7Cr
Red Flags:🟥
High Valuation (P.E. = 25.8)
Declining cash from operations annual
Green Flags:🟩
No debt
Zero promoter pledge
FIIs are increasing stake
MFs are increasing stake
Improving annual net profit
Previous Happy Candles Number – 77/100
New Happy Candles Number – 86/100
X/2 Fresh Entry/ averaging / compounding after closing above 760
Final Entry 794
Targets: 809, 839 and 866
Long term target: 896 and 918
Stop loss: Closing below 671
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
ShAnkara Building Materials Stock coming out of slumber of last 5 years with decent volumes and increased sales growth in last 3 years.
Infra and Engg spending Capex will keep the stock busy and running.
Weekly Momentum RSI all favourable wrt RR from this point.
Looking for a multi year breakout #superchartzKey levels:
Support:800
Resistance: 900 990 1050
Writeup:
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Shankara BreakoutShankara has done strong breakout.
Best buy price will be around 770.
Add to watchlist.
shankara building wait for retrecement target 790, 810,822, shankara building wait for retrecement
target 790, 810,822, 842
ascending triangle breakout
sl @ 708.40
$SHANKARAjust cleared stage 1 resistance and hovering over now
resistance at : 730.8
support at : 718.45 and 699
fundamentally very good huge upside @nakulvibhorbuy at 790 sl below trndline target 1000/1200/1500 add on dips with supportive trendline
Shankara building - sharing in advanceWe can see that stock price increased by 50-60% when stock gave a breakout from downward trend line for last 3 times. I am hopeful that history will repeat this time also.
Keep this stock in your radar and take positions when breakout comes from the downward trend line, review at 1080, which is the immediate resistance
And around 45% up from the breakout level. No clear stop loss at the moment, if will depend on the fashion in which this breakout comes.
If you are very aggressive trader then you can buy at CMP to reduce your risk after breakout, Daily closing below 632 is a clear stop loss if you buy it at CMP.
Good luck.
SHANKARA BUILDCON DAILY CHART Had given trendline breakout . might come to retest it, start accumulating in 550-575 zone for tgt 800/975
shankaraThey serve home owners, professional customers (such as architects and contractors), and small enterprises, through their retail stores. Additionally, in the semi urban markets, they also cater to specific agricultural requirements of individual customers and small enterprises. Under retail operations, they offer a comprehensive range of products at their stores, including structural steel, cement, TMT bars, hollow blocks, pipes and tubes, roofing solutions, welding accessories, primers, solar heaters, plumbing, tiles, sanitary ware, water tanks, plywood, kitchen sinks, lighting and other allied products. They carry reputed third party brands such as Johnson, Sintex, Uttam Galva, Uttam Value, Futura, APL Apollo, Astral Pipes and Alstone and their own brands such as CenturyRoof, Ganga and Loha at their retail stores.
SHANKARA BUILDING PRODUCTS : TARGET 680BUY : SHANKARA BUILDING PRODUCTS
CMP : 585.50
SL : 515
TARGET : 680 - 750
Timeframe : 3 month
Breakout possibilities + company have very good quarterly result
Buy around 580-600 with target of 820/1020....Stoploss 480.On recent break give signal of buying,stock crossed a historical resistance 600 with delivery volumes. It seems some smart money moving in. Longer char seems even more stronger.
longterm trend changestock looks very bullish , has taken support at lower levels and buy for long term
Short Term Investment IdeaShankara Building Projects looks intresting for the Short term Rs 580 Acts as a strong support and has a large target of Rs 900
SHANKARA LONG-TERM BULLISHVIEWNSE:SHANKARA
long-term bullish-view
Buy above 580
or
Invalid below 400
Targets updated in green.
