The stock has moved out of weekly consolidation with good volumes and RSI supportive in lower time frames for an entry.
The stock is trading strong above its All time high.
The stock has given a yearly breakout in 2023 after 8 years.
Momentum - Intact, Price Action - supportive, Sector - Textile.
Sangam india ltd
CMP 319.05
TGT - 400
SL- 290
PE - 9
Market cap - 1400 CR
Sales - 2700 Cr
Investor Madhuri Madhu Kela added 4% stake in Company during Q1 of 2023-24
SANGAMIND is looking not only bullish on weekly chart but also daily and 1 hour chart with super volume.Swing Target of 526 may touch within 3 to 5 days .....
SANGAMIND looking bullish as it is giving a good weekly closing. with big volumes. key factors to have a look at and analyze are:
1. stock is giving all time high breakout
2. volumes are huge during breakout.
3. stock went up 19% in just a single day giving a strong weekly closing on a friday.
keep this stock on your radar and and observe how price acts after this.
high cotton prices
NCLT Approves Scheme of Merger of Sangam Lifestyle Venture (Subsidiary) With SANGAM India
Sangam is increasing capacity to target exports market
p/E 12
caution : excessive debt 107% to equity
good setup on bigger time frames...
but looks a bit risky on small time frames...
have bought very small... lets see how it performs for few days then i will think about adding more
