Textile stocks are expected to outperform on Wednesday. AYM Syntex is a textile stock that is doing well on the stock exchanges. On an intraday basis, the share price of AYM Syntex increased by more than 6% on Wednesday.
On Tuesday, the promoter purchased certain AYM Syntex shares for about Ra 86.33 per share. On Tuesday, RRM Family Trust purchased around 5,00,000/- shares, while Mandawewala Enterprises Ltd purchased 470719 shares at approximately Rs 86.38 per share.
AYM Syntex’s promoter stake now goes up to 74 per cent in the company after fresh purchase. The stock faces stiff resistance at 97 levels and then again at 102 levels. If the stock manages to cross the 102 levels with volumes, we can say that the bulls will be at an advantage. A multi-year breakout is possible if the stock price crosses 102 levels for the first time.