Sampath Plc saw above average volumes trading in the last 2 days. Along with volumes the prices shot up from a low of 320 to a high of 345.40. An increase of 25.40 in a matter of 2 days. That shows how tightly the counter is held, where the buyers need to pay a premium to lure the sellers in. This is a clear indication of higher price levels for the bank in the way forward.
In order for the price to TC (Trend Continuation), then 350 must be broken on closing basis. If one is to base the traded volumes, it will be a no brainer for it to test 350 at the beginning of next week. In the medium to long term the Share Holders of Sampath Bank will enjoy higher prices due to the strong Fundamentals they show.
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