Though Meghmani is fundamentally good, technically it’s not so good right now for a rally. 6 months of consolidation is nothing in Meghmani. Look at the monthly chart of Megh below. It shows that in the past it went through 1 year of consolidation, 2 times.
Look at RSI in the chart. Whenever it went above 70 (which indicates the overbought zone), the price started falling. Only when the RSI cooled off and went below 60, and hit the 50 mark, the next leg of upmove started. I expect some more consolidation or downmove, and when the RSI hits 60 mark, I expect the next upmove. Also, the Elliott wave 4 correction is going on (look at the chart). When wave 5 starts, the upmove will begin. That can be from the 90s or even from the 80s. So, patience is what is needed. Once the upmove starts, we’ll get to see the same kind of moves that we saw from 19 to 50, and 35 to 125. If it hits 80 or below, I’m planning to add more.