Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in SUNFLAG.
“SUNFLAG is looking bullish on Daily Charts & good reading at ADX is indicating that the current trend is still strong, therefore I recommend traders to go long around 60.40 with a price target of 63 & Stop loss should be placed below 57.
SUNFLAG is continuing to develop new high value grades of alloy steel to cater the needs of domestic as well as international markets in addition to existing one. However, with the continuous efforts by the Company’s Management towards strict cost reduction and better financial / working capital management, has helped to improve its overall performance in order to survive in the difficult market conditions. I am expecting that probably company should be able to declare an EPS of about Rs 7 for FY18 which will add fuel to their share prices in long term as well.
SUNFLAG were closed 5.28 per cent up today at Rs 59.85 on NSE.