Magadh Sugar & Energy Limited
Magadh Sugar & Energy Limited appears to be a solid long-term investment as it has peaked and is still growing with lots of space to develop.
Please review and understand Magadh Sugar & Energy Limited's weekly chart layout. The data indicates that between 840 and 850, Magadh Sugar & Energy Limited is a great place to invest. It has performed remarkably well so far and has a large upside potential.
Please see the weekly chart provided by Magadh Sugar & Energy Limited. As we can see in the chart below, the stock has climbed and is currently trading above horizontal resistance after escaping from the 840–850 region. Magadh Sugar & Energy Limited is trading at 865 and is in high demand, according to the research. The chart below illustrates this stock's enormous upside potential, which may see it rise in the anticipated range of 1280–1300.
- Magadh Sugar & Energy Limited has continued to grow and achieved a major breakout at 840-850, making it an excellent long-term investment potential.
- It seems that Magadh Sugar & Energy Limited is in an ideal scenario, with potential for growth to 1280 and 1300.
- The risk-reward ratio of this stock is optimal for cash transactions between 840 and 850, thus now is the optimum time to buy.
- With a target price of 1280 to 1300, the chart indicates that the stock has broken out of an ascending triangle pattern.
Please see the weekly chart that Magadh Sugar & Energy Limited has provided. The weekly chart points to demand in the 840–850 price band, a breakout, and horizontal resistance. The increased demand causes the stock in that range to rise.
As the stock has hit a new high, this is a great opportunity to purchase. Please take note of the horizontal resistance and its breach, though. As of right now, the stock might hit its targets of 1280 and 1300 if we stick to the chart's upward trend.
The rising triangle gave rise to Magadh Sugar & Energy Limited, and the pattern's most recent targets fell between 1280 and 1300. One of the chart patterns used in technical analysis is the rising triangle. At the swing high and swing low, respectively, price disparities produce a horizontal line and a rising trend line. Triangle is formed by these two lines.
Given the tremendous demand for the stock, investors might be searching for a long-term buying opportunity in the 840–850 range in the hopes of profiting from any further losses. A bounce back to the 1280 and 1300 levels could follow, suggesting that the risk-reward ratio is favorable. Take advantage of any downturn as a chance to purchase this stock, which has a substantial upside potential. Invest any decline in the shares of the business.
Alternatively, investors might choose to use cash to buy the stock gradually, with a stop loss of 720 and targets between 1280 and 1300.
A Volatility Contraction Pattern (VCP), which is a situation in which price volatility reduces before a notable gain, is what traders and investors usually search for in order to enable the stock or instrument to achieve high volume and upside with a rapid increase and target hit. Please download the app from the Google Play Store to get more details about VCP patterns. We also present a method for high-precision pattern recognition.
The weekly chart of Magadh Sugar & Energy Limited shows both resistance and support. There are levels shown on the spot chart.
|
Magadh Sugar Limited |
Support |
Resistance |
|
Level 1 |
845 |
1280 |
|
Level 2 |
720 |
1300 |
Company Profile: Founded on March 19, 2015, Magadh Sugar & Energy Limited's primary goal is to deal in sugar and sugar products, spirits, denatured alcohol of any strength, and any other products resulting from the sugar manufacturing process or from any activity related to the sugar business. It also generates power through various means in accordance with business realignment, whereby the sugar business endeavors of Upper Ganges Sugar & Industries Ltd. and The Oudh Sugar Mills Ltd. will be physically located in the State of Bihar once the Composite Scheme of Arrangement is approved by the relevant regulatory bodies.
The company is based in India and mainly produces and sells sugar as well as its byproducts, which include molasses, bagasse, and press mud, as well as denatured spirits like ethanol and power.
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