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Technical Analysis: Finolex Industries Ltd. (FINPIPE)
Big breakout on the day chart! Seize the opportunity for an upside potential.

by RA ALOK DAIYA SEBI Reg. INH000011468

Report as on 30th Aug, 2024
About Finolex Industries Ltd. (FINPIPE)
Finolex Industries Ltd. is a leading manufacturer of PVC pipes, fittings, and other plastic products in India.
The company has a strong brand presence in the Indian market and is known for its quality products and services.
Finolex Industries Ltd. has a wide distribution network across India and also exports its products to several countries.
Key Price Levels
Stop Loss
288 (EOD basis). Crucial support level.
Current Market Price
313. Trading above stop loss.
Target Prices
327, 351, 370. Multiple resistance levels.
Technical Indicators
Trend
Bullish. Positive breakout confirms upward momentum.
Volume
Increased. Supports breakout validity.
Momentum
Strong. RSI and MACD indicate bullish sentiment.
Risk Management
Risk-Reward Ratio
1:1.35 (minimum)
Potential Loss
7.99% (to stop loss)
Potential Gain
18.21% (to highest target)
Trading Strategy

1

Entry
Buy at CMP or on slight dips.

2

Stop Loss
Place stop loss at 288. Exit if breached.

3

Target 1
Book partial profits at 327.

4

Target 2
Trail stop loss. Aim for 351.

5

Target 3
Hold remaining position for 370.