DevanNaayar

Himatsingka Seide - Preparing for Round bottom formation

NSE:HIMATSEIDE   HIMATSINGKA SEIDE
#Himatseide
CMP : 175.2
Date : 24/11/23
A Fundamentally weak and a high debt company. A recent turn around movement in textile sector is now influencing the world s largest cotton yarn maker. Stock is technically looking good now. Formation of a round bottom is seen in the chart with 60% completion . Now the stock is at its 52 week high with significant volumes. If round bottom formation completes a 75% upward movement can be expected and if breakout happens at the completion level a 150% of movement can be expected from this level. Stoploss at ₹.160 - 170 levels.

Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .

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