Cup and Handle Breakout for Mangalam Cement looks like.
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 increasing, FIIs are increasing stake and zero promoter pledge.
Entry after closing above 343. Target of the call will be 356 and 367. Long term targets in the stock will be 388. Stop loss in the stock should be maintained at closing below 300.
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 increasing, FIIs are increasing stake and zero promoter pledge.
Entry after closing above 343. Target of the call will be 356 and 367. Long term targets in the stock will be 388. Stop loss in the stock should be maintained at closing below 300.
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