Technicals: We have whats called upside gap two crows pattern in Mangalam. This is quite a bearish sign -which is a long white followed by black gapped above & black engulfs second. Also MACD is turning around current levels. I feel that we are first headed to around 175 . I have no exposure & dont intend to take.
Dear MONK8888,
As per technicals the short term charts must be in sync with higher degree for higher probability of success.Example, If you are analyzing daily charts it’s wise to check the weekly charts.If there is divergence it’s wise to follow the higher degree.As per weekly charts there is a flag formation and next target is expected to be 245.Also my Fibonacci retracement level suggests a resistance at 207 which if crossed next level will be 252.
Mangalam has also confirmed price,time and volume breakout too.Time must be emphasized here.
Today’s results are as per my expectations.
Hence as per technical and fundamental view it’s has much to go from here.
Cheers to all investors.
Disclosure: Invested and my views are my personal opinion.
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I have done that as well & feel that we first head to 170 before the next up move. I would be wrong if we close have a daily closing above 215. In fact if it fails to close above 200.30 on a daily closing basis , the counter trend to this up move starts. Checked this via EW & Candles
Sorry forgot to mention that I have no exposure & dont intend to take any
Dear MONK88888,
I really appreciate your technical views as they are unbiased as you don’t have any exposure to this scrip.However before coming to any conclusion about the target price we should consider multiple factors.Techinals just provide one dimension to it. BTW in short run any thing can happen and no one can tell that with certainty.
My view is that good results are already factored in the price as it has moved from 150 levels to 200 i.e 33% appreciation before the results( If anyone can share the other rational he is most welcome).
Today’s reaction to the results is one of the matured reaction shown by Mangalam. Price may consolidate for short time after 33% appreciation which is absolutely normal.But after the confirmation of good results ,the probability of moving higher is much more than that of moving down.Cheers to all investors.
Disclosure:Invested and happy to keep invested for long term too with this growth stock. 
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I believe that we have seen a bottom in place for Mangalam & the conformation would come once the scrip closes above 185. The low we have seen is around 173 ish. 170 is an important support area & that held so far. Feel we are headed higher from current 180 ish. I have no exposure & dont intend to take. I understand that this forum is more inclined towards fundamental analysis & does not like trade recommendations. Since value pickr has many exceptional fundamental analysts , I thought I could present a different dimension
From EW perspective , I see this as a possible culmination of Wave 4 of a larger degree which seems to have formed the ABC pattern. From here one could see wave 5 unfold for higher targets
I have seen people mention that the company might file DMF’s of certain API’s with USFDA but could not find anything on the same neither on the company website nor in any of the investor presentations. Can someone please throw some light on to that?
Also, is someone aware of the status of two of their API’s (Emtricitabine & Efavirenz) which are probably still under process validation on pilot scale. The website says they are under assessment.
Also, would welcome technical and fundamental views on this one.
Thanks,
Kavish
Disc. Invested
Today Mangalam Drugs locked in 20 % Upper Circuit. It is above 200 Day Moving Average… If stock moves above 200 MA do we call it as Tech break out.? Can someone please share technical view on Mangalam, Thanks.
Not sure about the technical break out but fundamentally its trading at very cheap valuations. Last few years they have grown their margins well but their sales were muted. Now with their Vapi Unit II getting WHO-Geneva approval I am hoping for topline growth. Debt is little high and is going to stay like that for sometime as per the management. The recent unfortunate incidents of floods in different parts of the world may trigger anit-malaria drug orders.
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It is a neat technical breakout and support comes in the form of a declining trend line around 146. The MACD is also aligned for an upmove , probably targeting 210 levels for the moment. Though I don’t have much faith in 200 DMA , it currently comes in around 157
Disc.: No exposure
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Thanks for the update.
Descent Q2
Revenue growth 9% YoY
PAT growth 31% YoY
Great to see that company is able to sustain margins over 17% for last 3 quarters.
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Finally some price action !!! nearing 170 levels…
With technical rebound, hopefully 200 is not far !!!
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With gaining more visibility, this one should command 20 PE …from present 10.
FY19E should be 20-22 EPS… so it is more comforting at cmp with projected 7 to 8 PE !!!
Dear friends after a long time Mangalam drugs have recommended dividend to the shareholders. it will raise the confidence of their shareholders.
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Would have been better if they would have repaid the Outstanding Debt with the same amount of Money…
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Promoters reducing their pledge
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Its not any big advisory form, nowadays short term movement are easy to create. paid recos are getting circulated in Whatsapp & telegram thereby causing a temporary euphoria. The other stock recommended by so callled big advisory firm are in deep red from past 1 year & advisory is boasting of his success.
Disc : Paid Subscriber to the said big advisory.