Sigachi Industries Ltd is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside.
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The stock is testing
resistance at rupee 304. This could give a
negative reaction, but an upward
breakthrough of rupee 304 means a
positive signal. Volume has previously
been high at price tops and low at price
bottoms. Volume balance is also positive,
wich strengthens the stock and indicates
increased chance of a break up. The stock
is overall assessed as technically positive
for the medium long term.
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