Shyam Metalics & Energy Crossing Key Levels.

Mar 7

SHYAMMETL today gave almost a 9% Move Closing above key levels and making new Swing Highs on the back of the News of Business update of Jan Month.

JANUARY STAINLESS STEEL SALES VOLUMES UP 59% YOY
JANUARY SPONGE IRON SALES VOLUMES UP 1% YOY

About:
SHYAMMETL is primarily engaged in manufacturing steel and allied products including pellets, sponge iron, TMT and long products, ferroalloys and power generation.

Trade Setup:
It could be a Good 1:1 Positional Trade as it made a Good Base near July Month Breakout Levels with RSI and MACD Trending Upwards and Closing Above all Major Moving Averages. Buy on DIps Will be a better approach

Target(Take Profit):
Around 975 or ATH Levels for Positional Trader

Stop Loss:
Recent Base Will Act as a Support so keep it as Stop Loss. Swing Trader Can Keep Entry Candle Low as Stop Loss.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

4 days ago

Trade closed: target reached

Around 975 or ATH Levels for Positional Trader DONE