Consolidation break in SANSERA ENG - 15% move min expectedSANSERA has been in consolidation for 3 and half months and looks at the breakout zone on daily TF after almost a minor price consolidation of of 2 weeks with healthy volumes over the last couple of weeks.
The company has increased institutional investing and a healthy QoQ growth for the last 2 quarters to add to strength. Although in comparison to last year, there is not much of a noticeable difference.
Additionally the return on equity from the stock is just about 13% in the last 3 years.
Dont have much confidence on the stock or the breakout.
Looks "technically" good on weekly time frame too.
However for swing traders you can keep this in your watchlist.
Entry - INR 1068
SL - (DL) - 5% (below consolidation)
TSL - According to your risk profile.
Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
