NSE:SHYAMMETL
✅ #SHYAMMETL trading above Resistance of 548
✅ Next Resistance is at 726
Related charts:
Charts are 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...
Shyam 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...
#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 metallic having strong fundamental is about to make a cup and handle pattern but we need to wait for a breakout price above Rs 480 with high volume, if it goes above 480 with high volume then chances are for an uptrend of this stock. keep an eye for it @280
Weakly chart analysis
• life high treading
• keeping 400 Stop loss.
• 580 technical target.
No recommendation for buy and sell
I'm a student just sharing knowledge
ABOUT Shyam Metalics
It's a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is one of the largest producers of ferro...
NSE:SHYAMMETL
✅ #SHYAMMETL trading above Resistance of 448
✅ Next Resistance is at 548
Related charts:
Charts are 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....
Shyammetl has given a trendline breakout yesterday.
Stock is looking good for a swing and positional trade. It is better to buy on dip for good risk:reward.
Idea is shared for educational purposes only.
If its able to break the trendline resistance it can achieve t1 t2 and more
good buying seen at the bottom levels it might take resistance and give a small retracement
SHYAMMETL:- Wait for the breakout, if it gives breakout and sustains then we can see upside movement
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...
NSE:SHYAMMETL
✅ #SHYAMMETL trading above Resistance of 381
✅ Next Resistance is at 448
Related charts:
Charts are 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....
