Sarda Energy could advance if it revisits the 4-hour bulls order block and retracement level. Should it rebound from the 4-hour bulls order block, we may view it as a chance to consider buying.
NSE:SARDAEN
Cmp : 1106
Good Volume
Try on pullback near 1067
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Watch above 830
Upside 892/930
Downside 786
Details explained on chart.
Simple analysis for learning and growing.
chart and levels only for education purpose.
Should be on watch list and execution.
Cup and handle breakout. A new rally can start once it crosses 926 levels with good volumes. It can once retest the breakout levels. Can add small quantities near 900 levels
Sarda Energy & Minerals has an operating revenue of Rs. 2,198.82 Cr. on a trailing 12-month basis. Annual revenue growth of 18% is outstanding, Pre-tax margin of 23% is great, ROE of 16% is good. The company has a debt to equity of 67%, which is a bit higher.
new 5 year high
volume support seen
close near day's high showing bullish sentiments at close
stay long till rsi daily close below 55
levels to watch at down side - 648 / 528
disclaimer - trade @ own risk
SARDA is trading near its tight support of 205 levels, glided through ascending trendline with huge volumes.
Look for long positions above 210 for the below target.
T1 : 236
T2 : 296
T3 : 382
Stop : 185
