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KITEX garments

Discussion in 'Fundamental Analysis' started by abhijitupsc, Oct 30, 2017.

  1. abhijitupsc

    abhijitupsc Contributor

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    People were talking about this company being future PAGE industry 1 year back... Since then, it had a free fall although right now I don't find grave fundamental issues with this stock. Can anyone of you see and tell me what went wrong with this company?
    I have figured out some accumulation happening with gradual surge in process but being naive to the market, seniors here are requested to guide me.
    Regards.

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    abhijitupsc, Oct 30, 2017
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  2. bnnarayana

    bnnarayana Contributor

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    Fundamentaly Kitex garment doing ok.
    Down trend started from 02-Nov-2016. There was bonus issue news, the share price went up to 520+ during April 17 once the news of 2: 5 was known the market was not happy then there was huge sell from that date and the record date of bonus was 22-Jun-17.
    Bonus news and technicals were main reason for such a huge fall.
    However from last 5 session the share price started up, trend and momentum has to pick up.
    For that may I request our techincial experts including Shabbir to give their feed back and future out look for further long term investment.

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    bnnarayana, Oct 30, 2017
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  3. shabbir

    shabbir Administrator Staff Member

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    Number wise company is doing good but I will still prefer a Page Ind over Kitex because I see they are lot different. They are manufacturer of apparels in the south area where as Page Ind is in the distribution of a global brand Jockey.
     
    shabbir, Oct 31, 2017
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  4. shabbir

    shabbir Administrator Staff Member

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    Technically bottom is being formed but it is good only above 250 and not before that.
     
    shabbir, Oct 31, 2017
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  5. abhijitupsc

    abhijitupsc Contributor

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    abhijitupsc, Oct 31, 2017
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  6. abhijitupsc

    abhijitupsc Contributor

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    That was really helpful..

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    abhijitupsc, Oct 31, 2017
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  7. bhat64

    bhat64 Apprentice

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    @ Shabbir is 250 something like moving average? Just want to educate myself since I have learning technical offlate


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    bhat64, Nov 1, 2017
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  8. bnnarayana

    bnnarayana Contributor

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    Dear Bharat Sir.
    250 is not moving average, it is share price.
    If share price moves more than Rs 250 and, if techincials are good than one can think of investing.

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    bnnarayana, Nov 1, 2017
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  9. shabbir

    shabbir Administrator Staff Member

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    It is the resistance level from which it corrected earlier.
     
    shabbir, Nov 1, 2017
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  10. nirajshah

    nirajshah Champion

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    nirajshah, Nov 1, 2017
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  11. abhijitupsc

    abhijitupsc Contributor

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    abhijitupsc, Nov 6, 2017
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