@hitesh2710 – Hi Hitesh, Happy 2024 !! I came across a couple of businesses which I thought made for an interesting Techno-Funda set up. Presenting my thoughts here on the same, more from a fundamental and business prospect standpoint. Requesting your technical expertise to understand if there is actually a potential techno-funda set up here. As always, thank you for your insights.
- LUX INDUSTRIES
- Cotton (the main raw material) prices have been stable and also falling slowly
- Given clean chit by SEBI on the insider case (CG issues were the main drag on the stock)
- Rural consumption upcycle will also act as a tailwind
- They have long term contracts with buyers in place
- Most negatives seem priced in (Price levels still at or less than pre covid)
- Your insights on this chart from a technical perspective please? To my layman’s eyes, this chart seemed similar to the one you posted about Polyplex. Just curious if they are at similar stage of a breakout?
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NATIONAL ALUMINUM (NALCO)
• Central government recently approved royalty rates for critical earth metals, including Lithium. NALCO is amongst the top Lithium mining companies and stands to gain.
• Metals sector is an upward trend (iron ore, base metal prices going up). Metal index has also been showing good traction. However, I am not sure when this cyclicality might end.
• Price action wise, it’s at a 15-year breakout. Your views on this set up please?
Thanks again.
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