Stock of Interest

Posted On: September 26, 2023

Stock Report: NITINSPIN(NSE) 25 Sep 2023

Nitin Spinners Ltd is an Indian company engaged in the textile business. It manufactures products such as cotton yarn and cotton knitted fabric. Its product comprises Yarn, Knitted Fabrics, Woven Fabrics, and Others. The yarn product, which is the key revenue driver, includes open-end yarns, multifold open-end yarns, ring-spun combed yarns, multifold ring spun yarns, compact yarns, fancy slub yarns, and ore spun yarns. The cotton knitted fabrics comprise single jersey, pique structures, interlock structures, rib structures, and three thread fleeces. The company carries out sales within India as well as exports to other countries.

#xCalData predicts that # NITINSPIN will continue its bearish phase over the next five days and trend within the range of 265 to 289. 

In comparison to the previous month, the price of the stock has experienced a decline of 0.64% indicating a bearish.

The Stock has doubled thrice since 06 Jan 2015 and took an average of 2.2 years to double. 

The stock has not shown seasonality trend in the past. 

 Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 3 years in the past. 

Majority of the technical ratios trend towards Bearish side of the spectrum. Only some of the technical indicators namely Relative Strength indicate Bullish view. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days. 

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