Introduction

Apex Frozen Foods Ltd. is a producer and exporter of variants of processed litopenaeus vannamei and black tiger shrimp. It engages in the business of export of shrimp; and geographical segment exports its products to the United States of America.

Observation

After Budget Aquaculture Business will be benefited custom duty reduced in budget announcement now it is 5% like its peer Avanti Feeds as well, I will post Avanti Feeds analysis in next blog inshallah. Stock show beautiful Triple bottom pattern on weekly chart with breakout 250 levels and bullish crossover ad all time low consolidation from last 16 month and make lower highs. Now high trading volume emerge from last 3 days. stock can retrace till 250-240 level for achieving my Target which is 287-350 levels which is 15%-35% that is shown in the chart. Weekly, daily RSI above 60.

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Technical Analysis & indicators 🔍

Weekly Chart

Triple Bottom

News of the day

2. The board of Tata Consumer Products on Tuesday received board approval to raise up to 30 billion (₹3,000 crore) Indian rupees through the rights issue according to a same-day disclosure to the stock exchanges. The rights issue will open on Aug. 5 at the rate of 818 rupees per rights equity share, including a premium of 817 rupees apiece.

3. Infosys Indian technology giant, through its Infosys Innovation Fund, has invested 5 million euros (₹45 crore in Indian rupees) for a minority stake in German venture capital fund Unternehmertum Venture Capita Partners, according to a Tuesday filing to the stock exchanges. The investment will be made as and when the capital is called over the investment period of approximately five years.

Educational content

Wed Jul 24, 2024