Recently on weekly chart of #ExcelIndustries inverted head & shoulder pattern got completed and price broke above the neckline. After breakout, price re-test occurred and today on good volumes price bounced back higher.
🌟Other Technical triggers 🌟
✅Price above 200 DMA.
✅High Trade and Delivery Quantity
✅RSI Trending Up
✅William R% is Bullish
✅Morning Star Pattern formed on Daily Chart.
Ramco Group Textile Division, produces a wide range of yarns from Cotton, Lenzing Modal & Tencel fibres to meet requirements of top class customers across the world.
Ramco Group Textile Division has 18 units across the country.
A flagship company of the Chiripal Group, #VishalFabrics Limited is a leading denim manufacturer.
Company has been promoted by Shri Brijmohan Chiripal who has nearly three decades of experience in the fabric and yarn business and marketing of knitted apparels.
Covid-19 has altered global textile & apparel (T&A) supply chain with several brands preferring more than one sourcing destination.
Further, US-China trade war & imposition of additional duties on Chinese T&A imports have forced US-based importers to search for alternatives.
In December, US signed a law that bans imports from China's Xinjiang region over concerns about forced labour. As Xinjiang constitutes ~ 20 per cent of global cotton market, supply re-adjustment on account of this ban has led to more demand for Indian cotton and cotton yarn.