A TECHNICAL VIEW ON SATIA INDUSTRIES LTD-16.10.2023

 

SATIA INDUSTRIES LTD

SECTOR: -- It is a quality producer of writing and printing paper in India, with a strong focus on modernization, efficiency and environmental sustainability.

FINANCIAL DATA 

                            F.Y-2022-23          MAR-2023 Qtr          JUNE-2023 Qtr

Sales: -                 1883.74cr                520.64cr                   481.17cr                      

Net Profit: -            192.17cr                 46.28cr                     84.15cr

E.P.S:-                       19.22                       4.63                            8.41   

Cash-E.P.S:-             39.93                     15.86                        11.68

O.P.M:-                   22.61%                   26.69%                      31.75%

N.P.M:-                   10.20%                    8.89%                     17.49%

Equity: - 10 cr,Face Value:-1,Book Value:-73.32, Price/Book:-1.83,Dividend Yield:-0.30,Share Holding Pattern:- Promoters—52.46%  & Public---47.54%, Market Cap:-1340cr.

TTM (E.P.S):-24.61(+125.78%), TTM (PE):-5.47, Sector (PE):--7.52

Data Source: - www.bseindia.com & www.moneycontol.com. 

All-Time High: -- 164.30 made on 31.10.2022.

All-Time Low: -- 50.10 made on 20.3.2020.

Recent Low:-101 made on 28.3.2023.

Recent Bottom; -- 122.85 made on 9.10.2023. 

Open-134.10--High-135--Low-132.55—Close-133.35 on 13.10.2023 

Support: 131.90/130.95/129.10/128.25/126.25/122.85/115.60/111.25/108.25/101. 

Resistance:138.70/141.80/142.80/144.40/146.25/149/152.35/154/158/164.30. 

(Bold and underlined figures are most important). 

The overall technical setup is looking good for the continuation of the up move, it is consolidating now in a broad range of 144.40---141.40---131.90---130.95----126.25---122.85---116----108.25 for quite some time now and likely to continue the up move in coming days. But moving down break below 131.95 & 130.95 will be an alert point, break below 122.85 will indicate weakness but as long as it holds 116 on the closing basis chances of an up move will always be alive but break below it could trigger fresh fall and break below 101 may accelerate the fall. Similarly moving up sustained break above 144.40 will put it on a strong up momentum track and then the upside target or resistance point could be at 149---152---158---164.30, if it moves above 152 and sustains on the closing basis then it could retest its all-time high of 164.30 or may go be yond it also and finally if it moves above 164.30 and sustains on the closing basis then the possible upside target could be 182---188.50---203---267---369. 

In view of the above observation, it is suggested that investors can accumulate the stock now and on the decline at appropriate support points. The short stop loss for the long trade will be 121.50 and for the long term investors the authentic stop loss would be below 107. The stock has the potential to appreciate by 50—60% or more in 8-12 months. 

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market. 

Contact me for strategic guidance to enter and exit trade. 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.