Carborundum - Was on radar for almost 1.5 month, waiting for it to cross ATH to enter. Now with Monthly RSI peeping out of 60, will enter with a small SL of 387. DISC: Not a SEBI Registered. I post charts for my own study.
Carborundum Univer a quality midcap company trading at fair valuation with decent volume in 4 days peiod. Ascending triangle chart pattern seen in this counter is strong and breakout can give atleast 30-35 pts.
1.low debt company and fundamental strong 2. promoter share is 42% and FII is 21%; general public is only 17%. 3. strong existence 4. high % delivery 5. Swing for 2 to 4 weeks still needs SL to protect our capital (4% SL)
IF U BUY AT THAT ZONE - THEN KEEP STOP LOSS AT 140, BELOW WHICH THE STOCK IS OF NOT MUCH VALUE AS IT WOULD HAVE BROKEN STRUCTURE.
if you are in a buy better exit and buy lower. potential buy zone is at 180 - 200. 140 stop loss. upside potential to 330.