Scan Steels Limited - Looks Good!

Dec 30, 2023

The Co. Scan Steels Limited manufactures TMT Rod (under the brand name of SHRISHTII TMT), Sponge Iron, MS Billets/ Ingots, and generates power for captive consumption.

Technicals

• Pattern: Symmetrical Continuation Triangle (Bullish)
  
• Duration - 1-2 months
  
• The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
  
• RSI indicating price strength
  

Fundamentals which looks good as well

• Company with Low Debt
  
• Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
  
• Book Value per share Improving for last 2 years
  
• Company with Zero Promoter Pledge
  
• Company with decreasing Promoter pledge
  

PLEASE NOTE THAT:

• This chart analysis is only for reference purpose.
  
• This is not buying or selling recommendations.
  
• I am not SEBI registered.
  
• Please consult your financial advisor before taking any trade
  

Jan 15

Trade closed: target reached

Educational Target Closed!