Do you use Camphor at Home!?Here is the world's largest manufacturer of Camphor. Mangalam Organics!
And the Camphor price is moving Up; check out - WPI at DPIIT.
The financials are looking stable.
For at the Sector rotation N Chemicals Play, this seems attractive. But being the MicroCap may pose quick corrections and sudden pullbacks here and there.
Chart appears to be nascent.
Recent price inch indicates the momentum is getting into it.
Have a look -
MANORG trade ideas
Mangalam organic looks good for 450Already made a botom breakout
Now tested 10ema support
It bounces from 10ema
Target would be 450
Stop 400
Risk reward 1:2
Swing trade..15 days period
Mangalam Organics Limited (MOL) are Prime Manufacturers of Camphor, Resin and Sodium Acetate. The management has over 50 years of experience in the pine chemical industry.
Please consult your financial advisor before any investments.
Breakout Looking StrongBreakout is looking really good. I'm dibbling in here with a few shares. Will add more in the coming days.
Use 700 to 695 as stop loss.
Target 1 : 763
Target 2 : 808
Target 3: 850+ if the next quarter results turn out to be good. A very high chance given sep is usually its best quarter.
If the price goes back to congestion area of 689 or below on 2 consecutive daily candles, just exit with a small loss