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PDS Multinational Fashion Technical Analysis #62: Buy | Target Rs 315 | Arijit Banerjee

OUR RECOMMENDATION

CMP#299.3
IdeaBUY
Buy Range290 – 299
Target315 – 320
StopLoss*277
Duration15 – 20 Trading Sessions
Potential Return^5 – 7%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
299.3BUY290 – 299315 – 32027715 – 20 Trading Sessions5 – 7%

# CMP on June 17, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 307.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

PDS Multinational Fashions limited, together its subsidaries designs, develops, sources, manufactures, markets and distributesvarious readymade garments and other consumer products worldwide. The company offers various apparels for men, women, lids and babies and have showrooms across USA, Cnada, UK, Spain, Germany, Hong KoNG, Australia and Other countries.

Stock Data
NSE CodePDSMFL
Sectoral IndexNIFTY 500
52W High349.60
52W Low290.70
Face Value10
Relative Performance_PDS Multinational Fashion vs Nifty 500

TECHNICAL OBSERVATIONS (WEEKLY)

  • The strong upmove during previous weak trade has resulted in a decisive breakout from a descending triangle pattern. Upside breakout from triangular consolidation pattern signals continuation of Uptrend.
PDS Multinational Fashion Weekly Chart
PDS Multinational Fashion Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • We are also witnessing the formation of ‘Higher Highs Higher Lows’, which is a positive sign as per ‘Dow Theory’.
  • ADX and +DI crossing above 20 and continuously rising indicates buying momentum and probable further rise.
PDS Multinational Fashion Daily Chart
PDS Multinational Fashion Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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