Multi Year Breakout - Retesting Done (Pennant Formation)

Rama Phosphates is involved in the business activities of Manufacture of other fertilizers.

The Stock broke out of a Multi Year Resistance with a very good volume and Rounding Bottom Formation on charts. The Stock retraced back to test its breakout level and is ready to bounce back. There is a continuous good volume seen in the stock. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA. The RSI is at perfect levels. There is a clear positive crossover of MACD Line on daily charts . All technical Indicators are indicating strong buy.

The Company is fundamentally very sound. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth in future.

Don't Miss to add above 150 levels for Targets of 180-200 with SL at 135.

Feel free to share your feedback and queries.
Trade active: First Target was done. Can Book half profits or Trail SL to 165


Superb new to trading view and started following you.
+1 Reply
Great identification!! The day chart has flag break out and your targets are good.
+1 Reply
mastermukund4 Sunandamedi
@Sunandamedi, thanks for your appreciation.
The only concern is Promoters have pledged 68 % out of 75 %. And yes agree all technical indicators positive.
+1 Reply
mastermukund4 SHEETAL_UDESHI
@SHEETAL_UDESHI, Thanks for your valuable feedback. The Company is generating good profits. Likely to get it unpledged soon.
thanks a lot for this amazing analysis
+1 Reply
mastermukund4 suitableCardin50398
@suitableCardin50398, The Pleasure is all mine. Thanks for Supporting