Vardhman Special Steels Ltd - Breakout Setup, Move is ON...#VSSL trading above Resistance of 305
Next Resistance is at 355
Support is at 226.50
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
VSSL
Vssl stock weekly technical analysis *Just sharing my view
- In this stock ABCD PATTERN complete and price so some weakness,
And volume & price opposite means volume and price between Divergence show.
-----Price break trend line show more weakness, 1st support is near 180.
-----Also time cycle end means reversal start.
----If you're view different from mine tell me in comments.
# This is just technical analysis of stock not covered any fundamentals or news.#
VSSLVSSL:- Stock has formed cup and handle pattern, plan something only after breakout till then keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Vardhman Special Steels LimitedVSSL:- The stock has given a breakout by forming an ascending triangle pattern, keep your eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
VSSL - Ichimoku Bullish Breakout Stock Name - Vardhman Special Steels Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 407
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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VARDHMAN STEEL is SPECIAL !Market Cap 1,111 Cr.
Promoter holding 60.8 %
Pledged 0%
Dividend Yield 1.25 %
Intrinsic Value 483
Stock P/E 10.4
Industry P/E 18.2
Debt to equity 0.26
ROCE 25.7 %
ROE 19.8 %
OPM 9.74 %
EBIDT growth 3Years 42.9 %
Free Cash Flow 24.2 Cr.
EPS 26.4 vs EPS last year 24.8 vs EPS preceding year 10.9
Vardhman Special Steels is engaged in manufacturing of Billets, Steel bars & Rods and Bright Bars of various categories of special and alloy steels since 1973 which caters to sectors such as Engineering, Automotive, Tractor, Bearing and Allied Industries.
The Co is amongst India’s Leading Steel Bar Producers for Automotive Applications.
The Co. has the capacity to manufacture 2 lakh TPA of steel billets and also 2 lakh TPA of steel rolled products. It has received approval from the Ministry of Environment for expanding its rolled-products capacity from 2 lakh TPA to 2.80 lakh TPA. The Co. invested Rs. 35 crore in capital expenditure in its unit. The most important among them was the modifications made to the Continuous Casting Machine (CCM) which has increased its melting capacity from 2 lakh TPA to 2.60 lakh TPA
The Co. sold 1.7 lakh tonnes in FY22 against 1.5 lakh tonnes in FY21.
The Co. has strong relations with 200+ customers like Toyota, Hero Moto Corp, Caterpillar, Hino Motors, Maruti, Bajaj, and Hyundai, among others. Its top 5 clients contribute about 30% of total revenue and about 70-75% of the contribution coming from passenger vehicles and two-wheelers.The Co also caters to international customers and has a presence in countries like Thailand, Taiwan, Turkey, Russia, Germany and Spain.In FY22, 5% of total sales came from exports.
Vardhman Special Steel - Near BreakoutManufactures of basic iron & steel .A low debt company with zero promoter pledge .Now in new 52 week high with significant volume . Trying to break the 10 month long channel resistance line. If it escapes from its nearly 1 year old channel band , then expecting a good move after retesting
VSSL looking good Positionally1. Stock in Continous uptrend.
2. Relative Strength Strong & increasing.
3. Stock crossed All Time High (2017) of 195.15 and was consolidating after multi-year Breakout.
4. Spread chart Breaking out.
5. Accumulative positive volume activity during consolidation.
6. Good Q1 numbers.
7. Stock is up today when most of the Nifty & Mid-cap stocks are in Red.
VSSLNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
watch for range breakoutbuy above 210 in intraday and swing
for swing sl 187 and for intraday Sl 205
for target in intraday use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
DAILY SWING CALL // Tuesday 13th of April 2021 // NSE: VSSLDAILY SWING CALL // Tuesday 13th of April 2021 // NSE:VSSL
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 152.15
TARGET: 175 (15% Around)
STOP LOSS: 137 (10% Max)
Standard Notes:
- Please follow the Stop Loss strictly and preferably on a daily closing basis.
- Recommended Profit Booking / Exit is on +12-15% & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades and is an indicative period.
- If SL / Target are not triggered and you still wish to hold the trade, this can be done as long as SL is followed or trailed.
Disclosure: I may or may not have a position in this trade.
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks.