Watch out for Multi Year Breakout - Cup & Handle Pattern
Somany 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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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.
Feel Free to share your feedback and queries. Do not forget follow me for upcoming posts.
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