PRIVISCL: Strong Buy Zone with Breakout Potential

2 дек.

Title: "PRIVISCL: Strong Buy Zone with Breakout Potential – Backed by Excellent Financials"

Stock: Privi Speciality Chemicals Ltd. (PRIVISCL)

Analysis:
Privi Speciality Chemicals is currently trading in a Buy Support Zone on the daily timeframe, offering a potential entry point for traders. The stock is backed by strong financial performance, with:

Quarterly Revenue: ₹522 Cr, a 20.2% YoY growth.
Quarterly Net Profit: ₹47 Cr, a robust 75.1% YoY growth.
Ownership Changes:

Promoter Holdings: Increased from 72.72% to 74.05%, reflecting strong confidence in the company’s growth potential.
FII/FPI Investors: Increased from 29 to 33 in Sep 2024 quarter.
Institutional Investors: Marginal decrease from 3.26% to 2.92%, with Mutual Fund holdings slightly reduced from 2.59% to 2.29%.
This combination of strong fundamentals and promoter confidence suggests a high likelihood of a breakout soon.

Technical Setup:

Trend: The stock is consolidating at support, poised for a potential upward move.
Volume: Watch for an uptick in volume to confirm the breakout.
Trade Plan:

Entry: At CMP or on breakout above resistance.
Target: Initial target at ₹1430; mid-term target at ₹1500.
Stop Loss: Below the support zone at ₹1280.
Note: With excellent financials and growing promoter confidence, PRIVISCL is well-positioned for an upside breakout.