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Sandur Manganese - Earnings Breakout

Long
BSE:SANDUMA   SANDUR MANGANESE & IRON ORES L
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Commonly referred to as PEG (Post Earnings Gap marked with the circle) where the earnings have increased by such a high quantum that it surprises the market and opens with a large gapup.
Additionally its peers have been getting environmental clearances to increase mining capacities. They are among the few 5 star rated miners in our country so if others have got the approval they too will most likely get the approval. Additionaly even though iron ore prices have cooled off, they are still quite high so high profit numbers should keep coming in. Its trading at a PE of 6.6, another strong quarter and that will fall alot more again. Their utilization levels are 99% so most of what they produce gets picked up.

Technical trade.
Long close to 1950 with a SL below 1850. (This is subject to our markets reversing from this correction, else we wait to buy it closer to 1910 whereever it actually bounces)

Cautionary Note
The price of iron ore has been a little weak this quarter compared to last q (based of china reducing steel output) so if ore prices keep cooling off, this stock won't have as much strength.

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