HIMATSINGKA SEIDE LTD
SECTOR: -- IS A VERTICALLY INTEGRATED COMPANY THAT
DESIGNS, DEVELOPS, MANUFACTURES AND MARKET VARIOUS HOME TEXTILE PRODUCTS. THE
COMPANY CARRIES OUT THE SPINNING, WEAVING, FINISHING OF TEXTILE AND MANUFACTURING
OF OTHER TEXTILES.
TTM/EPS;-Rs.11.46 (+276.12%yoy)
TTM/PE:-12.44 /SECTOR PE:-19.60
BOOK VALUE:-Rs.158.34
PRICE TO BOOK VALUE:-0.90
DIVIDEND YIELD:-0.18%
FACE VALUE: - Rs.5/
EQUITY: - 49.23cr.
SHARE HOLDING PATTERN:- PROMOTER—47.60% ---FII---4.00%----DII---1.00%
& PUBLIC---47.40%.
All-Time High: -- 443.80 made on 9.01.2018.
All-Time Low: -- 10.28 made in the year--1997.
Recent Low: - 114.50 made on 13.3.2024.
Open-141.90--High-143.59--Low-139.75—Close-140.13 on 8.7.2024.
Support:138.75/137.55/136.20/131.85/130.70/128.30/127.40/125.10/123.95/120.80/116.70/115.15/114.50.
Resistance:143.95/145.75/147.85/154.40/159.80/162.05/165.55/168.70174.45/178/183.95/187.95/195.50/221.60/230.30/279/283/306.30----.
(Bold and underlined figures are most important)
It is shaping up well for a good up move but now it is consolidating and will take some time to get into that grove and it may happen in coming weeks/months. Please note that moving up from here it will face stiff resistance in the range of 148---156---168.70 & 187.95, it will gain strength after crossing each point but it will get into strong up momentum track once it moves above 187.95 and sustain on the closing basis and then the broad upside target could be 196---215---243---250---259---291----306---349---364---443.80, please note that if it moves above 364 and sustain on the closing basis then it could retest its all-time high of 443.80 or may go beyond it also. Similarly moving down it will find strong support at 137.55---131.85---123.95 and as long as it holds this range chances of up move will be alive but break below 123.95 can drag it down lower to 116.70---114.50 range and break below this range can accelerate the fall but as of now it seems that the range of 116.70---114.50 is the worst price range for the stock and it is not likely move below it.
In view of the above observation, downside risk seems limited, therefore it is suggested that investors can accumulate the stock now and on the sharp decline at appropriate points but not below the range of 116.70---114.50 with a stop loss of 110 . The stock has the potential to appreciate by 50%—70% or more in 12-15 months from here.
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
Mobile—8240951127/9831313654.
