Buy in deep Opportunity SCIShipping Corporation of India Ltd presents a compelling mid-term buy opportunity near the critical 204 support, reinforced by a double bottom pattern on the daily chart. As a government-owned PSU in the booming shipping sector, it benefits from rising global trade volumes and India's maritime growth, trading at a fair P/E of ~12 amid recent corrections.
The chart confirms a double bottom at ~204, with bullish divergence in RSI/MACD oscillators signaling exhaustion of sellers. Key support holds at 200-204 (200-SMA nearby), while resistance eyes 215-220; a break above 211 could target 230-250 in 4-8 weeks. Oversold RSI (<20) and rising volume on lows support reversal potential.
SCI maintains robust ~30% OPM consistently, driven by fleet modernization and demand in crude tankers/container segments amid global trade recovery. At ₹205 (P/E 12.2x, P/B 1.16x), valuation corrects to fair levels vs. sector averages; dividend yield ~3% adds appeal. Govt backing ensures stability in expanding markets like LNG and offshore services.
Deep correction (-45% from all time highs) aligns with sector rotation; entry 200-205 with SL as per risk capacity, targeting 250 and more upside.
Better to take view for buy and hold for long term
Long
