Avanti Feeds Ready for Bullrun!
Is forming a strong symmetrical triangle pattern on a weekly timeframe at LTP: 507.35 and has been taking continuous support on the primary trendline(yellow-dashed) and is respecting the trendline ever since 2016 till 2022 today.
The sudden rise in shrimp demands from china and USA has overpowered the company's exports with good receivables too. This has happened for the first time since covid-19 when the company's exports are in demand majorly by china. Being the Market leader in Aqua Culture and seeing Demand for the culture and Supply capabilities of the company. The stock looks poised to witness an uprise now from fundamental and technical aspects.
Key levels:
Support 1: 475 (7% downside)
Support 2: 416( Crucial)-Stoploss
Resistance 1: 587
(14.62% gain; Expected Time: 1-2 months)
Resistance 2: 670
Resistance 3: 770
(52.37% gain; Expected Time : 3-6 months)
Suggestions: Do follow Stoploss levels with discipline. Patience is the key
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