Chart -> STEELCAST Weekly
A good-looking flag and pole have emerged on the weekly chart of the stock.
CMP: 530
Targets: 590 and 684
Good range: Around 500
SL: 460 weekly close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
NSE:STEELCAS Looking strong as
1. Stock has given a breakout above it's all time High in the Daily time frame
2. Bullish Crossover: EMA 20 higher than EMA 50
3. Stock consolidating in the Rectangle pattern and daily closing above the box range for last 6 months
4. Breakout with Huge Volume
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Steelcast if sustains above 500 then could give 15-20% returns in the short term. Even metal index is looking good which could fuel the rally in the stock.
Strong numbers in Q2 followed by decent price action and closing on to a strong close as well. On a red friday this stock sees healthy movement. Above 500 this could reach higher levels
