The stock has had a long build up through the entire month of June since it dropped down from its all time high of 101 which was hit on 14th may and now its trading at 82. It has consolidated for the entire month of June and its a dormant volcano which can burst to the upside any time. Let me show you an interesting comparison with deepak nitrite. Deepak nitrite high o 1988 on 6th May and a week later mangalore chem hits a high on 14th. Mangalore chem is forming an exact same pattern like deepak nitrite and the good news is that Deepak nitrite again hit a high on 8th May so you know what I am talking about. You can enter at CMP keeping a target of 100 and a stop loss of 70.
Message me or comment for faster updates. I am not a financial advisor and this is for educational purposes only.
Message me or comment for faster updates. I am not a financial advisor and this is for educational purposes only.