EMAMI LTD, BREAKING OUT FROM ABOUT 9-YEAR RESISTANCE
EMAMI is breaking out from a 9-year resistance, & a bullish Head & shoulder pattern on the monthly scale (chart attached). Its relative performance turned +ve, above its annual average. Volumes increased substantially over the last 3 months when the stock rallied about 65%. Its momentum (RSI) is now moving in the bullish zone, above 60. Fundamentally, EPS has been growing over the last 4 quarters, and sales growth is marginal. If it sustains above 700 level, we can see some significant rally in the counter.
No recommendation. Only personal analysis. Please consult your financial advisor for any decision relating to investment or trading.
No recommendation. Only personal analysis. Please consult your financial advisor for any decision relating to investment or trading.
Raju KMS Datla
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