SAGAR CEMENT looks good Positionally
Chart Structure:
- Price broke out of a Darvas Box Consolidation on May Mid.
- After little consolidation, it again went up to All-Time-High range & consolidated again for a bit.
- Price broke an All-time-high and rallied again.
- Since Darvas Breakout, the stock rallied around 88%
- Post Rally, the stock has been consolidating again and took a 14% breather only.
Sectoral Performance:
- CNXINFRA has been outperforming Nifty in 1Y, 6M, 3M & 1M timeframes.
- In all the above timeframes, the stock is outperforming its Sector as well as Nifty50.
- The S&P Reality Index has broken out of its Range on 22nd September and rallying up along with the stocks.
- The current push in the Realty sector will also bring Sectoral Tailwinds for the stock.
Relative Strength:
- After becoming RS+ on 10th June (with the new ARS Date) the relative strength has significantly improved.
- The outperformance went up to 11th August, till the stock rallied and came down a bit.
- During the consolidation phase, the spread performance came down under 50MA.
- Yesterday, the spread value has crossed 21-MA, and again will try to cross over 50-spread MA.
- Public & Pro values have also seen positive crossover on 17th September.
Volume & Deliveries:
- Huge Accumulation was done on 15th & 16th June with 4.79 lac shares delivered (2.39 lac/day) while Avg. before was 17.2k shares per day.
- The POC of Rally between 20th July to 4th Aug is around Rs. 272/-
- Post Rally, 12.56 lac shares delivered with Avg. 2.51 lac shares per day just before dry volume consolidation.
- Between 20th July & 25th August for 24 sessions, the Last 30 minutes Volumes had significantly increased compared to other days. (This suggest Big Hands Buying)
- During consolidation the price tried to breach POC levels of 272/- 5 times, but every time good buying (Session) volume was witnessed, keeping the price above POC.
- Link for Volume Study -
Financial Performance:
- June Quarterly numbers were mostly flat with a slight decline in Sales.
- Sales Growth - QoQ: -6% / YoY: 49%
- PBT Growth - QoQ: 3% / YoY: 40%
- PAT Growth - QoQ: 2% / YoY: 42%
Consolidation Behaviour:
- From 24th August, the stock price is consolidating on a thin Range of 9.5% between 266.10 & 295.00 in 22 sessions.
- Price has been consolidating now above 50-MA for the last 10 sessions.
- This consolidation has seen 7 Blast-off Candles in Day TF & 2 Weekly Blast-off Candles.
- This behavior of Blast-offs has been seen 3 times during consolidation before 25%, 30% & 37% up move.
- The 21-day Average of Absolute value (Open-Close) during consolidation is Positive (43.70)
- The 14-day Average of Absolute value (Open-Close) during consolidation is also Positive (25.35)
- Both Absolute Value Averages suggest buyers are having the upper hand during the consolidation.
A good stock to study further & keep an eye upon.
- Price broke out of a Darvas Box Consolidation on May Mid.
- After little consolidation, it again went up to All-Time-High range & consolidated again for a bit.
- Price broke an All-time-high and rallied again.
- Since Darvas Breakout, the stock rallied around 88%
- Post Rally, the stock has been consolidating again and took a 14% breather only.
Sectoral Performance:
- CNXINFRA has been outperforming Nifty in 1Y, 6M, 3M & 1M timeframes.
- In all the above timeframes, the stock is outperforming its Sector as well as Nifty50.
- The S&P Reality Index has broken out of its Range on 22nd September and rallying up along with the stocks.
- The current push in the Realty sector will also bring Sectoral Tailwinds for the stock.
Relative Strength:
- After becoming RS+ on 10th June (with the new ARS Date) the relative strength has significantly improved.
- The outperformance went up to 11th August, till the stock rallied and came down a bit.
- During the consolidation phase, the spread performance came down under 50MA.
- Yesterday, the spread value has crossed 21-MA, and again will try to cross over 50-spread MA.
- Public & Pro values have also seen positive crossover on 17th September.
Volume & Deliveries:
- Huge Accumulation was done on 15th & 16th June with 4.79 lac shares delivered (2.39 lac/day) while Avg. before was 17.2k shares per day.
- The POC of Rally between 20th July to 4th Aug is around Rs. 272/-
- Post Rally, 12.56 lac shares delivered with Avg. 2.51 lac shares per day just before dry volume consolidation.
- Between 20th July & 25th August for 24 sessions, the Last 30 minutes Volumes had significantly increased compared to other days. (This suggest Big Hands Buying)
- During consolidation the price tried to breach POC levels of 272/- 5 times, but every time good buying (Session) volume was witnessed, keeping the price above POC.
- Link for Volume Study -
Financial Performance:
- June Quarterly numbers were mostly flat with a slight decline in Sales.
- Sales Growth - QoQ: -6% / YoY: 49%
- PBT Growth - QoQ: 3% / YoY: 40%
- PAT Growth - QoQ: 2% / YoY: 42%
Consolidation Behaviour:
- From 24th August, the stock price is consolidating on a thin Range of 9.5% between 266.10 & 295.00 in 22 sessions.
- Price has been consolidating now above 50-MA for the last 10 sessions.
- This consolidation has seen 7 Blast-off Candles in Day TF & 2 Weekly Blast-off Candles.
- This behavior of Blast-offs has been seen 3 times during consolidation before 25%, 30% & 37% up move.
- The 21-day Average of Absolute value (Open-Close) during consolidation is Positive (43.70)
- The 14-day Average of Absolute value (Open-Close) during consolidation is also Positive (25.35)
- Both Absolute Value Averages suggest buyers are having the upper hand during the consolidation.
A good stock to study further & keep an eye upon.
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