SOMANYCERA trade ideas
Pullback entry opportunity in Somany CeramicsAfter forming a rounding base, Somany Ceramics is now forming a text book pullback pattern with price consolidating in a narrow range above the base. The resistance turned support line has not been violated during this period of consolidation and volume is drying up, just like how it dried up during the base formation. The company is likely to announce it's quarter results in a short while from now and it appears like the market is accumulating the stock in anticipation of a good result.
Somany is too overboughtWait till enter Fib support at 529..
Have to catch before its too late..
Wait for dip and enter
SOMANY CERAMICS LTD.Breakout from 2019 high level with good volume and wide range candle, bullish structure.
Somani Ceramics,weekly chart (technical analysis)Great Upflag breakout seen with huge volumes and also closing above R3 pivots with macd bullish crossover as well, looks good for trade up to next resistance which is at 586 and can trail your stop loss. Can keep it on your watchlist.
Trade at your own risk. only for educational purposes.
Thank you.
Watch out for Multi Year Breakout - Cup & Handle PatternSomany Ceramics Ltd. is involved in the business activities of Manufacture of other clay building materials.
The Stock has formed a rounding bottom formation after a prolonged downtrend. The Stock is near a multi year resistance and consolidating. The stock from a technical standpoint is trading close to its 50DMA. Handle is almost formed with clear low volumes.
The Company is fundamentally good with healthy balance sheet. The Company belongs to the industry of Building & Construction which has a bright future ahead. Mutual Funds have also increased their stake from 15.28%i in June, 2020 to 17.09% in March, 2021. The Company has also posted outstanding numbers in September & December Quarter of FY 21. The Company is expected to post robust numbers for March Quarter as well.
Watch out for breakout above 455 levels. The Stock is a very good investment pick.
Targets and SL posted on charts.
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SOMANY: WEEKLY FLAT BASE BREAKOUT Weekly Flat Base Breakout and retest done.
Buy Range: 460-485
SL: 8% Max
Target: 30%
Somany Ceramics Pole and Flag patternSomany Ceramics: an internationally acclaimed organization that specializes in ceramics and allied products segment. In the last four decades, Somany Ceramics has established itself as an unchallenged leader in the Indian Ceramic Industry with significant presence in India, Africa, The Middle East, United Kingdom and Russia. Somany is a complete décor solutions provider and its extensive range of products include – Ceramic Wall and Floor Tiles, Polished Vitrified Tiles, Glazed Vitrified Tiles, Digital Tiles, Sanitaryware and Bath Fittings as well as Tile Laying Solutions.
Technically, it has formed long pole and Flag pattern. The flag will take some more time for consolidation. Keep investing small quantities with SL of 400 CLBS, and hold positional. Targets are 480 500++
(Disclaimer: Do your own analysis, and then decide!)
SOMANYCERA breaking out with volumeSOMANYCERA breaking out after consolidation in a narrow range. The breakout is happening with good volume. Could be a good trade.
SOMANYCERA Breakout and boomsomany ceramics breakout above 460 and we see target of T1-537 , T2-645 in short span of time (2-3 week)
Somanycera - Long above 460Somanycera is consolidating between 460-400. Bullish above 460 (resistance)
SOMANYCERA, LOW RISK & HIGH REWARD SETUP (POSITIONAL & INTRDAY)SOMANYCERA has given breakout of 2 years of rounding bottom.
It is good for both Intraday & Swing. Swing to be taken only when stock is closing above said level on day closing basis.
Thanks
Piyush Gupta
Learn & Earn
Somany Ceramic Cmp 454.40 dated 9.4.2021Somany Ceramic Cmp 454.40 dated 9.4.2021
Rounding Pattern on daily chart
and also giving resistence breakout
above 460 giving target of
495-550-600-670-833 with Sl 400.
It is just a view, pls trade at your own risk.
SOMANY CERAMICSRight place to park capital here. Strong product portfolio and good demand of products are the reason of recovery from depth. Technically it has given rounding bottom breakout on weekly chart. Increasing volume also conforming the trend. Long term expected target is above 800.
