amankavi
Long

Sanghi : H&S Pattern

NSE:SANGHIIND   SANGHI INDUSTRIES
Scrip can given breakout from 52-week high, Neckline support and going strong with bullish surge

Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above SMA-200 which gives strength to ongoing momentum
2) Didnt get affected much during recent NIFTY             corrections
3) Volume increase during past few sessions

Aiming towards Price target. Rest in charts

Sound fundamentals of the company :-
https://www.screener.in/company/SANGHIIND/
Comment: Going in flow..
Comment: The scrip can go past 150-180-200+ as the Brothers in crime, Bearish doji star and spinning star are also unable to impact the surge
snapshot
Trade active
Comment: Scrip is going in right direction following breakaway gap and volume increase to confirm the momentum after breakout from descending channel

The scrip is almost around 52-week high

Good to add more on dips as the company appears to be poised for high growth
http://www.financialexpress.com/industry/sanghi-industries-shares-get-rated-buy-by-motilal-oswal-says-firm-poised-for-high-growth/998003/
Comment:
snapshot
Comment: Breakaway gap turned into exhaustion gap likely due to corrections overall

However, Company appears to be showing progressive growth with expenses being controlled and major expense like power/fuel getting lowered due to lower GST implication on lignite which will likely impact the cost further in long run

http://www.livemint.com/Money/t6bmhxzFqibSNtSLAgwuKJ/Lower-GST-on-lignite-a-shot-in-the-arm-for-Sanghi-Industries.html

PAT also increased in Q3
http://equitybulls.com/admin/news2006/news_det.asp?id=222847

Planning to buy on further corrections near support zone -110-112 as scrip has started to show sign of reversal
snapshot
@amankavi , Good Observation ... :)
Reply
@kbmj, thank you :)
Reply
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