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Consolidationzone

Breakout - Shriram Transport FinanceHello All, I have brought in another good set up. SRTF has broken it's consolidation range. Prior to the breakout day the volumes were building up and the breakout candle has witnessed the largest volume in the last few months which is a good sign. Now how to trade it: First of all do not let FOMO overpower you to take a trade in haste. Observe the price for a few days(analyse it as per your setup), as per candle formed on the breakout day there is some rejection seen at higher price (the upper wick is big), it calls for just a caution sign that we need to observe the price action. The stock may come for a retest and I guess that would be an apt entry. All said, just analyse the setup first, see how price behaves. Do not agree to me forcefully or just because I have posted an analysis. Take your own call and that would generate a lot of confidence in you. Let's make money together! Happy Trading :)
SLong
by Ankit_Oberoi
85
SAGAR CEMENT looks good PositionallyChart 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.
NSE:SAGCEMLong
by AmanSaraf
1