#SARDAENFundamentals:
* ROCE - 15.3%, ROE - 14.1%. Debt to Equity - 0.48
* EPS / Revenue - has been steadily increasing
* FIIs - Have marginally increased holding from 2.28% to 2.66%
* Retail holding levels have gone down
* Promoter holding has remained steady
* Mutual Funds have increased stake
Technicals:
* Price is consolidating and has started to form a higher low pivot structure
* Forming some mini cup patterns under a larger Cup pattern
* Volumes have subsided indicating silent accumulation by Instituitions
* Relative strength is strong / Momentum indicates build up / ADR is 5.2% and indicating up move
* Weekly chart shows clear signs of consolidation and a potential double bottom move.
* In weekly chart we can see a prior up move of ~70% and pull back of 20% only
The last two days have seen sellers taking control at the end of the day. This has led to creation of wicks.
It will be prudent to take a pilot position and then gradually start adding as price crosses highs of earlier two days and consolidates.
Note - Entry / SL / Target / Position size - Please figure out on your own based on risk appetite
Disclaimer - Your money requires your due diligence! I merely analyze and bring out probabilities. All the best.
