Lux Industries Inverted H&S Breakout Retest Lux Industries has recently tested its Neckline Brekout..if the price sustains above 1800 then we can see the following targets on the upside
LUXIND trade ideas
lUX iNDUSTRIES
SA 2865
TARGETS 3265-3400
SL 2478
Lux Industries Ltd. announced its results for the quarter ended December 2021 and has reported robust performance for the quarter ended December 2021.
Lux reported revenue of Rs 668.01 crore for Q3 FY’22 as against Rs 539.79 crore for Q3 FY’21, reporting growth of 24% YoY. Its revenue for the 9M period ended December 2021 was reported at Rs 1791.96 crore as against Rs 1363.55 crore for the previous 9M period, reflecting a growth of 26% YoY.
Break-out at current levelStatistical Brief Market Cap₹ 5,060 Cr.
High / Low₹ 2,088 / 840
ROE27.7 %
ROCE29.6 %
Debt to equity0.11
Return over 1year127 %
Return on assets20.4 %
Free Cash Flow₹ 102 Cr.
Sector Trend Positive on Weekly Chart
Stock Trend Positive on Weekly Chart
Pattern Higher-High
Insider Trading Positive
Pledged Data Positive
Breakout of Cup and Handle formationThere was a breakout of cup and handle formation. Now it's correcting itself, so there a good opportunity to buy at this level or you can buy after a breakout of previous green candle. Since it has broke the Cup and handle formation with good volume there is a good probability that it will give a good return in coming future. Plus the fundamentals are very strong, accelerating quarterly eps , accelerating annual eps , sales are growing, so i recommend to buy at this level.
