Examining the technical indicators, the Moving Average Convergence Divergence (MACD) remains bullish on both weekly and monthly charts, signalling sustained positive momentum over these periods. However, the Relative Strength Index (RSI) presents a contrasting picture: while the weekly RSI shows no clear signal, the monthly RSI indicates bearish tendencies, hinting at potential caution among investors over the longer term. Bollinger Bands align with a mildly bullish stance on both weekly and monthly timeframes, suggesting moderate volatility with a slight upward bias.
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Further technical analysis reveals that daily moving averages maintain a bullish posture, reinforcing short-term upward momentum. The Know Sure Thing (KST) indicator presents a mixed scenario: bullish on a weekly basis but mildly bearish monthly, indicating some divergence in momentum across timeframes. Dow Theory readings add to this complexity, showing a mildly bearish weekly trend and no definitive monthly trend. On-Balance Volume (OBV) data also diverges, with no clear weekly trend but a bullish monthly signal, suggesting accumulation over the longer term despite short-term uncertainty.
From a market performance perspective, Sandur Manganese & Iron Ores has demonstrated significant returns relative to the Sensex benchmark. Over the past week, the stock recorded a 4.6% return compared to Sensex’s 0.96%. However, the one-month return shows a slight decline of 0.76%, while the Sensex gained 0.86% in the same period. Year-to-date, the stock’s return stands at 57.53%, markedly higher than the Sensex’s 8.36%. Over one year, the stock’s return is 50.13%, compared to the Sensex’s 9.48%, highlighting strong relative performance.
Longer-term returns further underscore the stock’s robust growth trajectory. Over three years, Sandur Manganese & Iron Ores has delivered a return of 474.49%, vastly outpacing the Sensex’s 37.31%. The five-year return is even more pronounced at 1,317.81%, compared to the Sensex’s 91.65%. Over a decade, the stock’s return reaches an impressive 2,343.82%, dwarfing the Sensex’s 232.28%. These figures illustrate the stock’s capacity for substantial value creation over extended periods, despite recent technical adjustments.
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In summary, Sandur Manganese & Iron Ores is currently navigating a phase of technical parameter adjustment, with mixed signals across key indicators such as MACD, RSI, and KST. The stock’s price momentum shows signs of mild bullishness on shorter timeframes, while longer-term indicators suggest caution. Its historical returns relative to the Sensex remain compelling, reflecting strong underlying fundamentals and market positioning within the miscellaneous sector. Investors should consider these technical nuances alongside broader market conditions when evaluating the stock’s potential trajectory.
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