SHYAM METALICS> SHYAM METALICS
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> keep an eye on this stock , good above resistance area.
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Shyam Metalics out of Falling channelShyam Metalics and Energy seems to have completed ABC zig zag correction at 300 and came out of channel.
Channel breakout confirmed after it crossed 338 and while coming out formed rising wedge pattern or leading diagonal pattern.
Leading diagonal are found at start of new trend.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
Shyam Metalics Daily Chart AnalysisShyam Metalics showing positive move and may give good return in short term.
No Trade Suggestions !!
Thank you
Shyam metalicsShyam Metalics appears to have entered its third wave as per Elliott Wave theory, signaling a strong potential for upward momentum. The third wave is typically the most powerful and extended wave in the Elliott Wave sequence, often marked by increased buying interest and a surge in price. Given the current technical setup, this wave could propel Shyam Metalics to new highs, making it an attractive opportunity for traders and investors. As the third wave unfolds, monitoring key support levels and maintaining a disciplined approach to risk management will be crucial to maximizing gains during this bullish phase.
Key support : 750
Key Resistance: 950/1000
#LONG on SHYAM METALICS: Breakout from Descending ChannelShyam Metalics was in a continuous downfall since its listing on bourses. It fell from an ATH of 461.15 on Jul'21 and corrected by almost 41% to reach a low of 273.10 on 20 Jun'22. It took support from the base of descending channel and rose 39% to reach current high of 379.70. The scrip has given a successful breakout from the channel on 14th June 2023 and has risen by 18%.
Reversal play in Shyam Metalics (#SHYAMMETL) With Nifty Metal Index breaking out today , lets see how Shyam Metalics NSE:SHYAMMETL can play out from here...
Stock was clearly in downtrend, making Lower Highs and Lower Lows (blue & red highlights on the chart).
But it can reverse from here now. How? Here are some observations:
- It recently took support at IPO Price
- Made first Higher High (green highlight)
- Currently facing resistance from 14th Sep AVWAP (Rs. 354).
- Can take support at 20th Dec AVWAP (Rs. 338)
- Crossing above Rs. 354 will most probably break the support-turned resistance zone of Rs.360 too with force.
- Later, it can face resistance from 22nd July AVWAP (Rs. 383) and come to retest the Rs. 360 area.
- There should be no looking back once it crosses the 22nd July AVWAP
- Company has high ROE (above 20%) and currently trades at lower valuation multiples than its peers.
Disclaimer: Do not consider this as a trade recommendation.
SHAYM METALICS 7 MTHS CONSOLIDATION WILL IT SUSTAIN ?Shyam Metalics And Energy Ltd. is another interesting chart
1. 7 month's Consolidation breakout in the chart
2. RSI on all time frames above 60
3. Price Breakout with huge Volume candles
4. ABCD pattern on weekly chart
5. Major supports with cluster of moving averages in zone of 665 - 720 which can act as multiple support area.
Fundamentally
Company has reduced debt.
Company is almost debt free.
Company's working capital requirements have reduced from 34.1 days to 12.1 days
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Shyam Metalics: a probable long tradeIt is an anticipatory trade with a small SL.
Exceptional financials. Can be accumulated for long term on every dip.
Safe traders to enter post 315.
SHYAM METALICS - CONSOLIDATION BREAKOUT ON RADARRSI on all time frames above 60
Breakout with volume
Narrowing Bollinger Bands on weekly charts
Long consolidation breakout after a trending move
Breakout supported by strong volume
Major support near 660-710 zone
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Shyammetl - Ready for a Breakout?Shyam Metalics is poised to give a good upside move with a stage 2 base breakout and weekly RSI bouncing above 60.
Enter above 765, with a stop below 750 (daily close). Hold for a target of 20%
Shyam Metalics & EnergyLooks Good on Weekly Time Frame (W TF)
For positional trade, Carry on closing Basis.
Chart is self explationary.
Not a call/Tip.
Just for knowledge.
shyam metalics and energymothly rsi above 55.
momentum stock.
be simple buy simple.
keep investing.
like and press boost button.
thanks.
Shyam Metalics and Energy LtdSHYAMMETL trying to Break the ATH, an effective move may happen.
Concentrate for short term if price sustained above 492 | Tgt 513, 537 | Sl 470
Rounding Bpttom Breakout Followed by Consolidation Breakout#Shyam Metalics
It is one of the largest producers of ferro alloys,
has 8 captive non-fossil fuels power plants with an installed capacity of 227 MW.
MCap 13124 Cr
ROCE 15%
InstHold6%
-Growth YOY
Sales -4%
PAT 335%
-Rounding Bpttom Breakout Followed by Consolidation Breakout
SHYAM METALICS AND ENERGY IS READY?DISCLAIMER
Our video is intended only to provide general and preliminary information to traders/investor and shall not be considered as any investment decision. Do your own analysis, This is not a buy or sell tip. This is just for educational purpose only. And I'm not responsible for your Profit or loss as I'm not a SEBI registered financial advisor.
Shyam Metalics : Downtrend Reversal and Weekly BreakoutThe weekly candle breakout in stock.
- since listing gain, the stock in downward with trendline resistance.
- this week bullish candle indicated a clear reversal in trend and upward price movement in stock.
- price closed above EMA 200 in daily chart after positively retested the breakout level.
Plan your target and stop loss as per capital allocation and risk appetite.
Thanks
-AJ
Trend reversal, breaking downward trendSHYAM METALICS AND ENERGY LTD
Time frame- DAILY
*Entry - 310
*Stop loss - 295
*Short term - medium term
*Reason- trend reversal, Strong RSI, Sector is also looking good.
Disclaimer:- I am not SEBI registered analyst. Only for information and education purpose. Please consult your adviser before investing.
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SHYAMMETL BULLISH POSITIONAL TRADESHYAM METALICS AND ENERGY LIMITED LTP RS 347.
One can buy at CMP and avg at 320 level if gets opportunity to Avg.
SL 300
Shyam metalicsForming a double bottom and giving a good momentum
Now forming pole nd flag
Breakout at 350 for target with 365
Shyam Metalics & Energy Ltd- looking for turnaroundWait for retracement and buy based on price action breakout in 15 min or 1 hour time frame. Promoter holding is on higher side, so one can expect some off loading.
*Note- Only for educational purpose.
Shyam Metalics Predictions Dated 26th Dec 2021Technical Patterns used are Trend Line Analysis and Double Top or Bottom + Neckline Break Entry. Recommended to do your own Research.
Shyam Metalics showing bulish signalsafter using xabcd pattern on the it is validating all the requirement are done and is ready for upmove
trg1-390
trg2-416
trg3-440
also RSI is showing bulidh divergence as the price is moving down
SHYAM METALICSSeems like a very good opportunity for swing here you can enter or wait for level I prefer doing parading for lower level as metals go for correction I prefer this to take for swing as a target of the all-time high. Do not keep SL too tight give some buffer
