As per the daily charts, it has formed a symmetrical triangle, so waiting for either a breakout or breakdown. Accordingly trade direction can then be taken.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
As per the weekly charts the stock is moving within the channel, so no trade as per weekly charts.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Meghmani Organics Limited is an India-based manufacturer of pigment and pesticide products. The Company's segments include Pigments, Agro Chemicals, Basic Chemicals and Others. The Pigments segment manufactures and distributes Phthalocynine Green 7, Copper Phthalocynine Blue, Alpha Blue and Beta Blue. The Agro Chemicals segment manufactures and distributes technical, intermediates and formulations of insecticides. The Basic Chemicals segment includes basic chemicals, which undergo processing in various stages before being converted into downstream Chemicals that are used by the agriculture sector and also by consumers. The Others segment includes trading activity. The Company produces pesticides for crop and non-crop applications, such as for public health, insect control in wood preservation and food grain storage. The Company's brands include Megastar, Megacyper, Megaban, Synergy and Courage. The Company's basic chemicals portfolio includes caustic soda, chlorine and hydrogen.
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MEGH
