amankavi
Long

Meghmani : Investment stock (Can rebound)

NSE:MEGH   MEGHMANI ORGANICS
Scrip can rebound back from support levels

Rest in charts.

Bullish momentum sign
1) RSI indicator around oversold zone from where it had rebound back
2) Falling wedge pattern however volume is now required as an essential ingredient to confirm a falling wedge breakout to make it rise towards desired levels
3) Fundamentally sound company which has shown great results with major rise in net profit
http://www.business-standard.com/article/news-cm/meghmani-organics-consolidated-net-profit-rises-130-95-in-the-december-2017-quarter-118021000690_1.html

Aiming towards TP- resistance zone and beyond thereon after entry confirmation until the scrip sustains above support levels.

SL as per risk appetite

https://www.screener.in/company/MEGH/consolidated/

The company has also reduced debt which is great sign with positive cash flow

Trade active
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