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Sonacomster

Sona BLW Precisions (SonaComstar) NSE:SONACOMS A great proxy player to Automobile Industry with great fundamentals and it was backed by one of the biggest fund house in the world Blackstone. Stock was in sharp impulse wave which is wave 1. After impulse stock was in running triple three correction which is wave 2. Running triple three correction can be difficult to identify but give very good opportunity to hop into main trend which is in this case is bullish trend. Basic rule is wave 3 is most of the time is extended one. So, After Running triple three correction I think stock is in extended wave 3. My target for wave 3 is 995.
NSE:SONACOMSLong
by swaaapnil
Possible Trend Breakout in SONACOMS???Stock has been consolidating from past one year after a giving a strong rally of more than 150%. On 25/01/23 stock has finally given breakout from its downtrend. Price level of 480-500 may act as immediate resistance for the stock. Major support lies between 400-410 in case price retraces in to previous channel. If price manages to close above this level, we can expect a decent rally in coming days. All the possible targets are marked on the chart. Maintain stop loss at 380. About Fundamentals of the company, SonaBLW Precision Forgings Limited designs, manufactures, and supplies systems and components for the automotive industry in India and internationally. Recently the company has agreed to acquire 54% stake in Novelic Doo-Beograd-zvezdara for €40.5 million on January 9, 2023, will Complements its focus in the EV space and provides an option to scale the business and develop adjacency in conjunction. This is just a view, not recommendation to trade. Do your own analysis before making any investment. Do like and share this idea and share your opinion in the comment section. NSE:SONACOMS
NSE:SONACOMSLong
by varun_devadiga
3
SONACOMS - Multibagger stock BreakoutTo speak about the fundamental of the company, Sonacomstar is among the Top 10 Global Differential Bevel Gear Suppliers, Among the Top 10 Global Starter Motor Suppliers for PVs, and the Largest manufacturer of differential gears for PVs, CVs & Tractors in India. Sona Comstar has an 8.7% market share in the global market in Battery Electric Vehicle (BEV) Differential Assembles, 5% in Differential Bevel Gear, and 3% market share in Starter Motor. Now about technical, Price has already corrected nearly 30% from all-time heights of 840. We can see the price has taken support exactly at Fib Retracement levels of 0.618, which is one of the most respected levels in Fib series. Adding to this, in a short-time frame price is in an uptrend with the support of SMA. We can enter trade when price closes above 595 in the daily time frame. All possible targets are mentioned on the chart. This is not a recommendation. Do your own analysis before investing. Please share your view on this in the comment.
NSE:SONACOMSLong
by SWING2TRADER
6