Technical Overview:
1. RSI Divergence and Weekly Chart Support:
MANGLMCEM's weekly chart indicates significant support at the Relative Strength Index (RSI) divergence. RSI is a momentum oscillator, and divergence can signal potential reversals or shifts in the prevailing trend. The presence of support on the weekly chart suggests a strong technical...
MANGALAM CEMENT did weekly resistance breakout with huge volume which was created with huge gap up we can play this as swing trade for the target of 30% to 35 % with the SL of 8%.
Looking really good after breaking out one of the important Gann levels and huge volumes being seen for the last few months
Follow the levels marked on the chart for the SL and the targets
Mangalam Cement is a B.K. Birla Group company, producing cement in various grades using the dry process and marketing under the brand name of "Birla Uttam". Mangalam Cement CMP is 332.20.
The negative aspects of the company are high valuation (P.E. = 53.3) and declining cash from operations. Positive aspects of the company are low debt, promoter holding...
This counter can move up to 335 in the next few weeks. One should track this counter for knowledge purposes. At attractive valuations and reverse zones on technical charts.
