Meghmani on the verge of breakout mega breakout?Meghmani Organics Ltd. operates as a diversified chemical company. It operates under the following segments: Pigment segment and Agrochemical segment.
Meghmani Organics CMP is 83.21. The positive aspects of the company are Company with Zero Promoter Pledge, Growth in Net Profit with increasing Profit Margin (QoQ), Stock with Low PE (PE = -20) and FII / FPI or Institutions increasing their shareholding.
The Negative aspects of the company are Degrowth in Revenue and Profit, Companies not able to generate net cash and Annual net profit declining for last 2 years.
Entry can be taken after closing above 84.5. Targets in the stock will be 93 and 96. The long-term target in the stock will be 100 and 105. Stop loss in the stock should be maintained at Closing below 71.
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Meghmani
Bullish Breakout in Meghmani OrganicsBig Volume breakout in meghmani organics. The stock broke above its 9 month old rising trendline (blue) which it had violated in january. the stock also breached the resistance trendline (red) which was holding back the stock for a long time.
This move was accompanied by massive volumes and points to a classic price and volume breakout in the stock.
Going forward Meghmani will target the 100-110 congestion zone where it traded in early to mid 2018.
Higher targets are possible once 110 is cleared on a weekly basis.
One can go long in Meghmani Organics with a DCB stoploss level of 87 (dotted line)
Meghmanian individual's view (Educational purpose only)
If it managed to breach 82 levels, then the near term target 93
Strong support at 66-70
Bull flag formation for Meghmani, waiting for the breakout.Hi Guys,
As you can see in the chart, It had a healthy correction and heading towards the upward momentum. And also crossed the 55 EMA line which is a good sign for it.
Neutral zone for MeghmaniAs can be seen the major hurdle is going above the Kijun. Also weaker than Nifty currently and future cloud turning red. However in the support zone of the cloud. So it a wait and watch from here. close above hurdle is long and below the cloud is short.
MEGHMANI - Positional View on Day ChartsMeghmani Organics
Very good long term bet
Financially Strong