Sagar Cements consolidating within a VCP pattern
Updated
Sagar Cements is making a VCP pattern, with decreasing price volatility as you go from left to right.
There has been some promoter buying seen too in recent quarters, plus the company has performed better in last 2 quarters.
One can consider buying above 753, with a Stop below 696.
Cement sector in India has performed well during recent times, with many stocks like Ultratech, Shree Cements, Ambuja Cements, ACC, Ramco, JK Cement, Heidelberg, hitting their life time highs.
Remember that patterns do fail and therefore you must maintain proper position sizing according to your risk-appetite.
There has been some promoter buying seen too in recent quarters, plus the company has performed better in last 2 quarters.
One can consider buying above 753, with a Stop below 696.
Cement sector in India has performed well during recent times, with many stocks like Ultratech, Shree Cements, Ambuja Cements, ACC, Ramco, JK Cement, Heidelberg, hitting their life time highs.
Remember that patterns do fail and therefore you must maintain proper position sizing according to your risk-appetite.
Note
Please drag the chart to your right to see it properly.Note
Sagar Cements split the face value of its shares from Rs 10 to Rs 2. Which means that you have to divide the value of the share as on the idea posted date by 5, for the correct comparison.
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