Hello Again !!
This is Atul and I am again Coming with this Post to Analyse Few Stocks in Food Sector… Looks Like Something is Cooking in these Stocks !!
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Let’s Talk about the Stocks
First Stock in this List is
LT FOODS LTD.
Starting with the Chart ..
We may See the Chart is Setting up a Bullish Formation of Cup and Handle with a Neckline around 61-62 area.
One May Consider a Bullish Flag and Pole Structure also.
Price was currently trading in a Small Range of 13-14 Rs. since last few Weeks. It Looks Like the Stock may break out of the Range and Will be Moving above 62 to confirm breakout. if the breakout is done and sustained on Daily Closing Basis, We May assume Confirmation of breakout and Enter the Longs in the Stock. For Both Kind of Bullish Formations My Target will be Approx 45 Rs. upside above 62 levels, Which means 107 area and As per the Chart, We may See the Resistance Placed at 109 levels. Who Says “Price Moves Randomly?” Every Price Move is Connected somewhere and you may Take hints from Markets, Charts and Psychology of traders.
Recommendation Here ;
LT Foods Ltd.
BUY Range : 55-60
Stoploss : Closing Below 46
Targets : 72 – 88 – 108
Timeframe : Approx 4-6 Months.
The Trade is completely based on the Stocks Price Chart, No Fundamentals considered here. So Take your Own call and follow Strict Risk Management before Entering the Trade. Don’t Cry after entering the Trade.
Next Stock in the List Will be
HERITAGE FOODS LTD.
Let’s Start with a Chart :
Here is a Weekly Chart of Heritage Foods Ltd.
We may easily identify that the Chart is coming Out of the Falling trend by Breakout above the Falling Trendline. Current Weekly Candle is Looking Strong and Trading comfortably above the Trendline Breakout area. There is an Immediate Resistance for the price around 377 – 380 area, Once it is crossed one May Increase the Stake in the Trade. Above 380, We will See a Move Towards 418 and Then 555 – 666 and 877 in coming Months. Expecting The Stock to Double in Coming 12-18 months. The process will be Gradual and it may test patience. I haven’t considered any Fundamentals or any Changes in the Sector. The Recommendation is Purely based on Technical Analysis of Charts. Do not Expect Sharp upside. Even if it comes, consider it as a Bonus.
Recommendation Here is :
HERITAGE FOODS LTD.
BUY Range : 320-340
Stoploss : Closing Below 280
targets : 377 – 417 – 555 – 666 – 877
Timeframe : 12-18 Months.
Next Stock on our Radar is
PARAG MILK FOODS LTD.
Let’s see the Chart
This is a Weekly Chart of Parag Milk Foods Ltd.
The Stock is Still in Downtrend and No Major Activity Seen apart from the Consolidation with a Strong Resistance at 125 levels. The Reason for Buy is Triangle Formation at the Bottom. The Resistance at 125 and a Rising Trendline are creating the Candle, This May lead to a Breakout above 125. In the Case of Breakout, The Stock may Face Major Resistance around 165 Levels with a Strong horizontal Line Resistance and a Trendline Resistance. It will be Tough to cross and One May Expect Some More consolidation between 125 and 165, Above 165 it will be a Longer term Breakout above the Falling Trendline and entering into New Bullish Phase. The Stock will Perform upto 199 and 253 for Short term. I am not Expecting big from this Stock. The Fundamentals are not seen and Studied here.
The Recommendation Here is :
PARAG MILK FOODS LTD.
BUY Range : 110 to 125
Stoploss : Closing Below 100
Targets : 165 – 199 – 255
Timeframe : Approx 6-9 months
next Stock on the Radar is
PRABHAT DAIRY LTD.
Let’s See the Chart
This is a Weekly Chart for the Stock.
We Might be Looking at a Strong Breakout. The Stock has Already Broken out of the falling trendline. The Trend Line Breakout is Retested and Stock is continuing the upward Journey. Now in this Chart, the Structure is very Simple . Once Breaking Out of the Falling Trend, the Stock may face some Hurdles with the Resistances and It will Move Step by Step clearing the resistance Levels.
The Recommendation here is :
PRABHAT DAIRY LTD.
BUY Range : 70-75 area/
Stoploss : Close below 66
Targets : 90 & 128
Timeframe : 3-4 Months.
AS Said Earlier, We are Not Looking at the Fundamentals of those companies, We are Looking at the Charts only and the Recommendations are based on Technical Analysis Only. You may Consult your Financial Adviser before Taking the trades, Follow Strict Risk management and Have patience.
The Analyst, ATUL SHINDE is a Technical Analyst, Global Market Expert and a Globally Certified Investment Adviser. The Adviser is having an Experience of Handling Global Market Analysis, Fund Management since Last 13+ years as of Now & having a Client Base Across the World.
The Recommendation here are Purely Technical in nature and you must Follow them With Proper Risk Management, We Never Suggest you to Put all The Eggs in a Single Basket.
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Original source: https://optionsmagician.blogspot.com/2021/03/food-is-cooking.html