The stock has been forming a cup&handle pattern since 2008. The cup was formed and ready in 2024 post that handle has been forming and now it has given a good breakout with pretty satisfying and reliable volume surge.
The profitability and the sales are hitting a new high so is the stock price.
However one red flag is the company has 100% pledged it's holding, other than this the company looks a good bet to yield a quick 100% returns.
The company is the flagship company of NECO Group of Industries. Started in 1976 as a small-scale Iron Foundry unit, Jayaswal Neco Industries Limited (Foundry Division) is now a producer of Iron & steel castings. The Company is engaged in the manufacturing and supply of billets, rolled products, pig iron & skull, sponge iron, pellet, steel, and Iron & steel castings
The profitability and the sales are hitting a new high so is the stock price.
However one red flag is the company has 100% pledged it's holding, other than this the company looks a good bet to yield a quick 100% returns.
The company is the flagship company of NECO Group of Industries. Started in 1976 as a small-scale Iron Foundry unit, Jayaswal Neco Industries Limited (Foundry Division) is now a producer of Iron & steel castings. The Company is engaged in the manufacturing and supply of billets, rolled products, pig iron & skull, sponge iron, pellet, steel, and Iron & steel castings
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.