Nakoda Textiles Industries - Penny Stock Idea - Swing Trade

CMP : 14

Nakoda Ltd processes yarn. The company texturizes and twists polyester yarn and trades in all types of yarn.

Nakoda is a 92 Cr penny cap share. Textile is never our favorite. Nakoda's Revenue and PAT has been growing like clock work with over 50% growth YoY. Its weak on NPM at 2% and very high on liabilities. I wouldn't recommend this as a long term pick. This call is mainly for swing traders who bottom fish and sell on the rise. Never look to accumulate this stock. Buy and Sell on spikes. This is a highly volatile stock and will offer such opportunities. Its got good support at 12 - 13 levels. Try to buy at those levels and exit above 15 - 16 levels.