A TECHNICAL UPDATE ON SUPREME IND LTD-15.6.2024

 

SUPREME IND LTD

SECTOR: -- Plastic- Molded Articles & Furniture. 

ATH---6460 MADE ON 12.6.2024.

CMP; 6039.55 on 14.6.2024.

TTM EPS- 84.21(+23.64% Y. O. Y)

TTM/PE: -- 70.89--- SECTOR PE--50. 40

BOOK VALUE- 402.18

PRICE TO BOOK VALUE:--14.85(very high)

DIVIDED YIELD:-.50%

FACE VALUE:-2

EQUITY:-25.41cr

SHARE HOLDING:- PROMOTERS-48.90% ---FII--24.70%---DII---11.40%& PUBLIC--15%. 

Support:5839.80/5666.70/5401/5277/5196/5103/4888/4791/4747/4385/4036/4021. 

Resistance:-6460. 

TECHNICAL VIEW:--

It is in a strong long term uptrend and in the new zone. The important range for the stock now is between 6460---6162----5196, breakout on the either side will decide which way it will move, sustained break above 6162 can take it up to 6460 and sustained break above it can pull it up to 6970/8500/9053 or more. Similarly sustained break below its critical bottom of 5196 can drag it down to lower levels and correction may last longer. In view of the above observation, long can be tried on decline at appropriate support points but not below 5196 with a proper and strict stop loss. 

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.