Trading Idea and Technical Analysis of :Pritika Auto Industries

By | August 1, 2021 10:33 am

Last time we gave Analysis on Pritika Auto Industries Trade did worked out perfectly and Hit 2 target on upside.

Pritika Auto Industries  Looks Intresting again based on Price and Time Study after seeing a significant correction making it lucrative both from fundamental and technical point.

Pritika Auto Industries is listed on BSE with TICKER PRITIKAUTO | 539359 |

Company Background:

Pritika started in 1974 by Mr. R.S. Nibber, a young technocrat, manufacturing small forgings is today a renowned organisation in Tractor & Automotive industry providing excellence in field of precision machined components out of casting, forging & bar stock. Pritika Auto Ltd. has nearly five decades of experience in Tractor/Auto component manufacturing. Currently, they have three plants wherein two are located in Punjab and one in Himachal Pradesh with a total production capacity of over 50,000 tons per annum.

To cater to the rising demand, the Company plans to expand capacity by 1,500 tons per month, resulting in a capacity of 18,000 pa, through a new manufacturing unit in Punjab – operational from 2023. Thus, we will have a total capacity of 68,000 ton pa by 2023. They have a strong pan India presence and also export to major client in the US. With regards to products, they have a diversified portfolio which includes axle housings, wheel housings, hydraulic lift housings, end cover, plate differential carrier, cylinder blocks, crank cases.The company has announced highest Monthly sale ever and highest yearly sale on consolidated basis. They are now the no. 1 company in North India for machined castings.

The company’s clientele includes OEMs like M&M, Swaraj, TAFE, Escorts, SML Isuzu, TMTL, Ashok Leyland, New Holland Tractors India Ltd., Brakes India Ltd.

Pritika Auto Industries is listed on BSE with TICKER PRITIKAUTO | 539359 |

As there is a strong outlook in agriculture Scetor, backed by a healthy monsoon, is driving demand for tractors. Tractor industry is expected to grow at CAGR of 8-10% during 2017-22 wherein unit sales are expected to reach one million by mid of next decade, registering a 6-7% CAGR.

Buoyant agriculture industry is complemented by supportive government initiatives for the agriculture and rural sectors, as well as for the automotive sector. Point worth highlighting here is the government’s Automotive Mission Plan (AMP) 2016-26 which will benefit the industry in the multiple ways. This will lead to an increase in contribution of auto industry in the country’s GDP to over 12%. In addition, End of Life Policy would be implemented for old vehicles that will open up new opportunities. This will be big positive for Pritika Auto.


Daily Chart 

On Friday Pritika has closed above its 200 DMA suggesting long term trend is turning bullish, and is at the support zone as shown in above chart suggesting price is ready to move upwards.

Weekly Chart

On Weekly chart we in the middle of the range 16-21 so high probablity we can move to upper end of the range.

Traders can go Long in range of 18.8-19 with SL of 17.2 for a target of 21/22.5/25 

The above Stocks is not investment pick and shared for educational purposes based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.

Category: Small Cap Stocks

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

Leave a Reply