Pitti Engineering Limited

• 28 November, 2024 Ruchit Thakur

Pitti Engineering Limited

Pitti Engineering Limited is poised to reach a record high and appears to be a fantastic long-term investment.

Please review and comprehend the Pitti Engineering Limited daily chart's format. Pitti Engineering Limited is a wise investment in the 1430–1450 range, based on the chart. It has performed exceptionally well so far and has a great deal of room to grow.

Please refer to the Pitti Engineering Limited daily chart. The stock is currently increasing and preparing to trade above horizontal resistance as it prepares to break out of the 1430–1450 zone. As the chart shows, Pitti Engineering Limited is currently in high demand at a price of 1430. The following chart illustrates the expected growth era, which spans from 1650 to 1700. 

• Pitti Engineering Limited is a great long-term investment opportunity that is still growing and poised to make a fair breakthrough between 1430 and 1450.
• Pitti Engineering Limited appears to be in a strong position with room to expand to 1650 and 1700 on the chart.
• The optimum time to buy this stock right now is between 1430 and 1450 since the risk-reward ratio is optimal for cash transactions.
• The chart indicates that the stock is preparing to exit a rectangle pattern, with a target price range of 1650–1700.

Please consult the Pitti Engineering Limited daily chart for reference. The daily chart shows horizontal resistance and demand in the price range of 1430 to 1450. Strong demand in that location causes the stock to rise.

The stock is poised to hit a new all-time high, suggesting that the current price is a perfect moment to buy. Kindly pay attention to the horizontal resistance and how it was broken. The stock has so far maintained its upward trajectory on the chart, positioning itself to reach its targets at 1650 and 1700. 

The most current aims of Pitti Engineering Limited, which evolved from the rectangular layout, were set between 1650 and 1700. A popular technical analysis pattern, the rectangle is defined by horizontal lines that exhibit significant resistance and support. Buying at support and selling at resistance are the two profitable trading tactics. Another is to wait for a breakout from the formation while applying the measuring approach.

The stock is in great demand, so investors may look for a long-term buying opportunity in the 1430–1450 zone and take advantage of any declines. This could show a strong risk-reward ratio and result in a recovery to the 1650 and 1700 levels. Use every downturn as an opportunity to invest because this stock has a large upside potential. Take advantage of every downturn to buy this stock.

Using cash, investors might purchase the stock gradually by setting a price goal between 1650 and 1700 and a stop loss around 1340.

As an investor or trader, I frequently search for a Volatility Contraction Pattern (VCP), which is a scenario where price volatility declines prior to a notable increase, allowing the stock or instrument to gain substantial volume and upside with a quick increase and goal hit. To learn more about VCP patterns, please download the FxCareers app from the Google Play store. We also demonstrate how to identify such patterns with great precision.

Pitti Engineering Limited's daily chart shows both support and resistance. The spot chart illustrates the levels. 

Company Profile: Established in 1983 and led by Sharad B. Pitti, Pitti Engineering Limited (formerly Pitti Laminations Limited) is the biggest and most reputable producer of press tools, die-cast rotors, motor cores, sub-assemblies, and electrical steel laminates in India. Being the biggest exporter of laminations from India makes the company proud. The company has already expanded into the production of steel-fabricated parts, castings, and machined parts for stator and rotor assemblies, with intentions to expand into forgings. The goal of growth is achieved by ongoing forward and backward integration as well as capacity building.

The company's headquarters are in Hyderabad, India, and its cutting-edge production facilities are roughly 45 kilometers distant. The current installed capacity of 32,000 TPA of laminations is being gradually increased to 50,000 TPA by Pitti Engineering.
 

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