Sarda Energy monthly chart shows us that as long as price is trading above the rising resistance red trendline it may continue to trend up. Twice before evening star candles were formed and prices corrected thereafter... this time price broke above this trendline and closed.. Fibonacci levels points to next target as 1522..price closing below the rising red trendline is the stop loss...
The company has captive coal mines, captive iron ore mines, captive thermal power generation plants and produces iron and steel products, ferro alloys.. It also has 142 MW of Hydro Power generating projects in 3 states.. looks insulated against inflationary costs of rising power and coal prices i the present environment..
Market is not conducive in present environment so bear in mind that most trade ideas will fail :) we can only try or sit back and let the storm pass