Sundram Fasteners is an auto-ancillary company, with Return on Equity above 20% in last 10 years . With these type of fundamentally-sound companies, you need a strategy, to give you BUY signals with high-probability of continuing up-moves.
The Pro-Breakouts strategy that I use automatically draws breakout and support lines, which result in trade signals. For...
Accumulate 545-530 (upto 500 can be accumulated)
For targets
560
580
600
620
Stop
470 below
CBSL
For educational pupose only,
Not responsible for any loss
Sundaram fasterners looks to break out of > 20 month consolidation with a rounding pattern formation on weekly/daily charts.
Today's volume is pretty good compared to 10-week avg volume.
Confirmation of a close above 218 can trigger the stock to a new wave of uptrend.
