Edit this postHas Sandur Manganese Confirmed a Medium-Term Trend Reversal With a Double Bottom?
About Sandur Manganese & Iron Ores Ltd
Sandur Manganese & Iron Ores Ltd is a key player in manganese ore mining and iron ore operations, with integrated activities across mining, power generation, and ferroalloys. The stock is closely linked to metal cycles and infrastructure demand.
Technically, the stock is trading within a rising trend channel on the medium-to-long-term charts, indicating increasing investor confidence and sustained accumulation at higher levels.
Key Technical Observations
🔹 Rising trend channel intact on medium-term charts.
🔹 Double-bottom formation confirms trend reversal.
🔹 Pattern indicates upside potential toward ₹231.
🔹 Immediate support seen near ₹214.
🔹 Major support zone placed around ₹195.
🔹 Resistance zone located near ₹230.
Volume behaviour adds strength to the setup. Historically, volumes have expanded near price tops and contracted near bottoms, while the current volume balance remains positive. This confirms that buyers are in control of the trend.
Technical View
Sandur Manganese is assessed as technically positive for the medium-to-long term. As long as the stock sustains above ₹214, the broader structure favours continuation of the uptrend, with pullbacks likely to attract buying interest.
Derivative Pro & Nifty Expert Gulshan Khera, CFP® highlights that base formations combined with positive volume balance often signal sustainable trend reversals. For disciplined market insights, explore Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions.
