11.6.2024
A TECHNICAL UPDATE.
VA TECH WABANG LTD.
SECTOR--WATER TREATMENT & MISCELLANEOUS.
ATH---1177. 30 MADE ON 10.6.2024.
CMP-- 1145 NOW
TTM EPS- 39.48(+1811.12% Y. O. Y)
TTM/PE----- 29.21/ SECTOR PE--27. 43
BOOK VALUE- 245.35
PRICE TO BOOK VALUE:--4.70
DIVIDED YIELD:-0%
FACE VALUE:-2
EQUITY:-12.40cr
SHARE HOLDING:- PROMOTERS-19.10% ---FII--12.50%---DII---5.60%& PUBLIC--62.80%
Support:--1030/1016/972, 50/913/854.05/825.
Resistance:-1157/1177.30/1217/1316/1362/1528/1693.
TECHNICAL VIEW:--
It is in a strong long term uptrend and in the new zone. Please note that it has given a huge upside breakout recently from its previous all-time high of 972.50 after more than 9 years, which is hugely positive and if it sustain above it then it may have an excellent upside move. Moving down it's good support range is between 989---972.50 and the worst price for the stock seems to be in the range of 854--825 as of now. Please note that sustained break below 854 can drag it down to much lower levels. It is buy on decline stock now at appropriate points but not below the range of 989---972.50 and finally not below the range of 854--825 for sure.
Remarks:- In view of the above observation long trade can be tried on decline near or within the range of 989---972.50 with a short stop loss of 940 but the authentic stop loss would be below 825.
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.
Thanks
Narendra Kumar Surana
Email—suranank@gmail.com
Mobile—8240951127/9831313654.
