MTM Chart, page-2814

A very strong play, again this week.
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From a weekly perspective, moved from 34.5 to 37. Volume lower than other weeks, don't know why, but as long SP is rising, nothing to complain.
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So what is happening? The trading pattern this week, was exactly as it played last couple of weeks. Only difference, last 2 weeks the play was mid 20s. This week mid 30s. It is obvious that there are some big players involved. They seem committed. They seem to have enough ammo to see SP doesn't drop. Not sure who they are, their objective, their targets, but they mean business.
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I am not sure what would be the next big announcement from technical perspective, in short-term. Its not like a drilling that people can analyse results, depth, percentage, volume, etc. Nothing for us to technically evaluate. Management has said that technically it scales commercially for their target of 1tonne which was the objective. At this stage, its the word of management. But in collaboration, agreements, finance etc there is lot of scope. So lets see.
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Personally picked up a few this week at average 32. Much less than before, but pattern was so compelling, that I thought I have to play something. I am still playing some other sectors very strongly, so am hoping its not a runner in next couple of weeks before I would be ready for a larger play. But lets see.
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So what may happen next week? Since the break of 30.5, the previous high, its played very strongly. Last week it was 35.5. This week 37. At this stage, from trading pattern, very difficult to point anything negative. Its playing stronger and seem to be backed by some big players. All the signs of a good play. Lets see what's in store next week. All the best.