Short Term Swing Trading Idea in Mangalam Cement for 20% UpsideHi,
NSE:MANGLMCEM has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
Don't Forget to Follow me to get all the updates.
Please share your feedback or any queries on the study.
Disclaimer: Please consult your financial advisor before making any investment decision.
Mangalamcement
Mangalam Cement - Might get a breakoutRecently cement sector is gaining momentum. After the 2020 fall, the stock is linearly increasing with a spurt in July 2021. Since then the stock has again caught itself in a range between 326 and 414 which can also be confirmed from historical data. Seeing current situations we might expect the stock to give massive returns. Seeing the fib levels and EMA 50 and 200 we can expect Target to be 544 and if it is broken, the sky is the limit.
Please comment your thoughts and do share your view among others.
Mangalam Cement: A Potential Long TradePrice has bounced off the lower parallel of the Magenta-Modified Schiff pitchfork. More recently, the bounce off the 50-dma is a positive development. A breakout past the 200-DMA would be a major sign of strength and we can then make a strong case for a test of the medianline or the middle line of the Magenta pitchfork.