ASTRAL trade ideas
buy at zone - swing / intradayENTRY
- lines marked below is potential reversal zone ( PRZ)
- entry is strictly inside the zone
- look for buying confirmation in smaller time frame ( 15 minutes preferred )
EXIT
1. target
- mark fib retracement from C to latest swing low
- TGT 1 - 0.236 fib level ( intraday tgt)
- TGT 2 - 0.382 fib level
- TGT 3 - 0.5 fib level ( preferred target )
2. SL
- candle close below (PRZ)
- if u didn't get confirmation inside the zone , ignore this pick
- if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK
- RE-ENTRY can be done , if u again get buying confirmation inside the zone
Uptrend - 2 year breakoutBased on resistance and support levels, price breaking parallel range above 2 year resistance supporting rejection and retracement. further upward move is expected ( if price stays above 2164 ) to 14%-15% price apprx. 2500.
*only checking buying position, no short selling
!!Personal views only. please do your own research!!
Astral LtdTarget and SL mentioned in chart
OLD CHART
New Products and Expansion:
Paint business gearing up for new products and Astral brand launch in a phased manner
Bathware business showing quarter-on-quarter improvement with increasing sales
Capacity expansion plans for Hyderabad and Kanpur plants with timelines and estimated CAPEX provided
FUNDAMENTALS
Market Cap
₹ 55,968 Cr.
Current Price
₹ 2,084
52 Week High / Low
₹ 2,129 / 1,298
Stock P/E
99.2
Book Value
₹ 108
Dividend Yield
0.15 %
ROCE
23.6 %
ROE
17.9 %
Face Value
₹ 1.00
Price to book value
19.3
Intrinsic Value
₹ 476
PEG Ratio
4.71
Price to Sales
10.1
Debt
₹ 97.8 Cr.
Debt to equity
0.03
Int Coverage
31.8
Reserves
₹ 2,875 Cr.
Promoter holding
54.1 %
Pledged percentage
0.00 %
EPS last year
₹ 17.0
Net CF
₹ -112 Cr.
Price to Cash Flow
100
Free Cash Flow
₹ 247 Cr.
OPM last year
15.7 %
Return on assets
12.1 %
Industry PE
31.6
Sales growth
9.51 %
A stock which refuses to come down : AstralA fundamentally good company is running with good momentum. A healthy bull run with consolidation in between too. The upmove remains intact with support of volumes and DMI indicating there is still potential strength in the bullish momentum.
My view is to buy with an open target and SL trailing with the EMA
Astral positional strategyEntry:
Look for stocks, including Astral Ltd. (NSE), that recently crossed their 52-week high. This suggests potential upward momentum.
Stop Loss:
Place a stop-loss order 8% below the entry price. This limits your potential downside if the price moves against you.
Target:
Aim for a profit target of more than 15% above the entry price. This offers a good reward-to-risk ratio (assuming an 8% stop loss).
Additional Considerations:
Confirmation: While the stock crossing its 52-week high is a good starting point, consider additional confirmation for the uptrend. This could include technical indicators like moving averages or relative strength index (RSI) showing upward movement.
Volatility: Be aware of the stock's typical price volatility. An 8% stop loss might be too tight for a highly volatile stock, potentially leading to unnecessary exits.
Risk Management: This strategy focuses on a single price target. You can consider a trailing stop-loss to lock in profits as the price moves up or take partial profits at specific intervals.
Backtesting: Before deploying this strategy with real capital, consider backtesting it on historical data to assess its effectiveness and tweak parameters like stop loss and target percentages.
Disclaimer: This is a basic strategy and should not be considered financial advice. Always do your own research before making any investment decisions.
27-05-2024 - Stocks for intradayAll details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting charts.
Disc - Am not a SEBI registered analyst. Please do your own analyses before taking position. Details provided on chart is only for educational purposes and not a trading recommendation
AstralAstral Poly Technik Ltd was established in 1996, with the aim to manufacture pro-India plumbing and drainage systems in the country. It has also forayed into adhesive business over years.
Fundamentally good counter to go for long-term
Technically - Wait for breakout from INVERSE HEAD and SHOULDER PATTERN , TARGETS and STOP LOSS MENTIONED in CHART
Market Cap
₹ 38,882 Cr.
Current Price
₹ 1,448
Stock P/E
100
Book Value
₹ 90.3
Dividend Yield
0.16 %
ROCE
29.6 %
ROE
22.6 %
Face Value
₹ 1.00
Promoter holding
55.8 %
EPS last year
₹ 18.1
EPS latest quarter
₹ 3.46
Debt
₹ 95.4 Cr.
Pledged percentage
0.00 %
Net CF
₹ 571 Cr.
Price to Cash Flow
71.6
Free Cash Flow
₹ 198 Cr.
Debt to equity
0.04
OPM last year
17.2 %
OPM 5Year
17.2 %
Reserves
₹ 2,406 Cr.
Price to book value
16.0
Int Coverage
14.0
PEG Ratio
3.72