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AMARARAJA BATTERIES

Discussion in 'Technical Analysis' started by caringvij, Oct 30, 2017.

  1. caringvij

    caringvij Active Member

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    I bought amararaja at 902 after assessing to be fundamental ly strong company. Now it is going down . Kindly share your views.

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    caringvij, Oct 30, 2017
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  2. shabbir

    shabbir Administrator Staff Member

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    You purchased it slightly higher and it is quite weak as of now. Ideally it is a good stock above 800 and not prior to that. There is no news for its downturn but market expects the increase in lead prices will dampen its performance going forward.
     
    shabbir, Oct 31, 2017
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  3. jiju6justus

    jiju6justus Member

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    Is like a good time to accumulate shares or wait and watch for management's decision to increase unit price
     
    jiju6justus, Nov 4, 2017
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  4. akhtar80

    akhtar80 Responder

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    Buy above 715/720 or wait till it hits 615 or Best is to wait till results are out on 9th. You will definitely find one of these two levels.

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    akhtar80, Nov 4, 2017
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  5. shabbir

    shabbir Administrator Staff Member

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    I am considering accumulating. Will wait for few more weeks to see the price action.
     
    shabbir, Nov 6, 2017
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  6. nirajshah

    nirajshah Champion

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    At what level??

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    nirajshah, Nov 6, 2017
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  7. shabbir

    shabbir Administrator Staff Member

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    shabbir, Nov 6, 2017
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  8. bhat64

    bhat64 Apprentice

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    Exide and Amara have such different chart patterns despite the duopoly. When Exide was tiring Amara flew up and now reverse..markets amaze me


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    bhat64, Nov 9, 2017
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  9. shabbir

    shabbir Administrator Staff Member

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    Exide has multiple business including insurance and so when battery business was under pressure due to high lead prices, other business kept the prices higher. Now when finance sector is seeing a correction, things may look different again in Exide. Amara is purely a battery play and it looks like bottom is being formed.
     
    shabbir, Nov 9, 2017
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  10. nirajshah

    nirajshah Champion

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    nirajshah, Nov 10, 2017
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  11. akhtar80

    akhtar80 Responder

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    Niraj bhai, result was not that great, its rise is only due to people's expectation that it will post very bad result. Some commentators even suggested 18% decline so that ways it did well.
     
    akhtar80, Nov 10, 2017
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  12. shabbir

    shabbir Administrator Staff Member

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    Exactly. Good results are different from results being better than market expectations. Market expected things will be down 30% but it was only 10%. Yet they kept margins at a good levels and so it was good results overall despite lead prices.
     
    shabbir, Nov 10, 2017
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