Introduction

Ester is backed by 30 years of industry expertise in Industries Limited is into manufacturing Polyester Films, Polyester Chips, Specialty Polymers and Engineering Plastic compounds. The company is headquartered in the National Capital Region of India (Gurgaon). The company serves varying markets like food packaging, processed food, fresh food, food on the go, shelf stable, ready to eat, liquids, beverage packaging, beverage packaging, home and personal care, industrial packaging, constructions, automotive, optical fiber cable.

Observation

Stock Breakout it its old levels 128 with 20% in one day and with trading volume after two-time rejection in 1 year from 128 levels 1st rejecting date is 15 May 2023, 2nd rejection date is 29 April 2024 and now finally its breakout on 29 July 2024 with huge volume. Stock shows a very good cup & handle pattern on weekly chart and gap up spinning top with strong RSI above 60 and bullish crossover. Bullish crossover date is 13 May 2024. stock can retrace till 137, 127 levels because on day chart spinning top is forming, we can expect better upward direction after retracement which is mentioned on the above cart.

This stock is not for safe players this is risky stock do your complete research

Technical Analysis & indicators 🔍

News of the day

1. Tata Steel acquired 5,573,248,408 equity shares of Singapore-based subsidiary T Steel Holdings for $875 million (₹7,185 crore in Indian rupees), according to an Indian bourse filing on Monday. T Steel will remain a wholly owned subsidiary of the group following this transaction.

2. L&T Technology Services partnered with PS Technology to design, develop and supply advanced AI-based simulation technologies for rail infrastructure, according to a press release filed with the Indian bourses on Monday.

3. Indian equities are trading at eye-popping premiums, but a bit of caution is creeping into one corner of the market. SoftBank-backed e-scooter maker Ola Electric on Monday launched its initial public offering, seeking a valuation of up to $4 billion (₹3.28 lakh crore in Indian rupees). That's a quarter lower than its previous funding round in September, a sign that investor patience for unprofitable tech stars is running thin. It sends a warning to other upstarts eyeing a stock market debut.It took Ola just three years to become the largest manufacturer of battery-run scooters in the world’s second-biggest market for two-wheelers, accounting for more than a third of sales during the year to the end of March. And its share is still growing.

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Wed Jul 31, 2024