MANORG- Lottery SG Balaji (SUPER No Change Required + EMA ) VCP 1) Base formation 2) Breakout possible 3) Retest on way
It is the world's largest manufacturer of Camphor. Its an small cap with just 300 Cr (so a risky bet). Its near its all time low. Current price is near its book value. Stock PE is too high as compare to industry PE. Promoter Holding is good & No promoter Pledged. Debt is less than reserves. Negative ROCE & ROE. Demand Zone are marked as green shaded horizontal...
Reason for breakout a) Volume spurt b) bear volume is very low c) fundas are not okay, d) consolidation breakout e) SL compulsory
Reason for long a) long above the vwap b) hSP set up and is valid, if the price cross above the vwap c) channel breakout possibility d) QQE, super trend and channel support for long breakout SL compulsory
Reason for long a) Macd support b) Good consolidation above 626 is long with 605 SL for 10% upside
chart patern look likes inverted bearish fleg pattern . broken support line on daily chart
Reason for long a) Debt free organization and good sales growth b) Good for long term investment c) TL support play and possible consolidation at this level before rise Duration 2 years for 30% upside potential. Investment not more than 1% of total investment
Double bottom activated targets and SL mentioned on the charts
Mangalam Organics looks good for a swing trade first TGT 1040 SL- if the trend line is broken
Noticed a strong breakout with high volume supported by a 3-week volume fallow up. new all-time high possible.
Man organics is out from cup handle and it is in corrective forming a bullish wedge
Stock retested the breakout resistance levels and now likely to resume rally
Buy at 735 Stop Loss at 675 Target 880, 1025 Note: This is purely for educational purposes only and is NOT a Buy/Sell Recommendation.
Levels mentioned on the chart. SL based on daily closing (DCB)
Adding in my portfolio and looking for 2R in upcoming days....
all details mentioned at the chart.i am not recomend any buy or sell just discus my view.
Stock Analysis of Mangalam organics. Technical Analysis of stock and its important levels
MANGALAM ORGANICS - VOLATILITY COMPRESSION - WEEKLY CHART