Menon Bearings Limited
No trades
In-depth trading ideas
Buy Menon Bearings LimitedCompany:- Menon Bearings Limited
Rsi:- greater than 57
volume rising on green candle and lower volume on red candles.
Stock has given breakout of Jan 2022 level on 6th September and after that stock went in one sided upward rally. Now consolidating since 1 month.
Strong seems to be ready for another upward rally.
Buying range :- Accumulate Stock in range of 103-109
Target : 120
SL:- 98
Fundamentals:- Fundamentally company looks good
ROCE- 26
ROE- 23
Debt/equity:- 0.21
Promoter holding:- 71.2
PotentialBreakout: Menon Bearings LtdBreaking 52w High with good relative strength. The immediate target would be the previous high with SL at the previous week's low.
Disclaimer: This is for demonstration and educational purposes only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
A good stock which created a fresh high with volumeMenon Bearings Limited is engaged in the manufacturing of auto components. The Company's products include bi-metal engine bearings; two-wheeler engines, and compressors for refrigerators, air conditioners, and others. the stock has created a 52 week high with volume, creating a Darvas box that can be considered for a short to medium trend trade with proper risk to reward
MENON BEARING: GOOD ENTRY POINTFresh Buy
TGT1 - 100
Positional TGT - 120
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis
STOCK OF THE MONTH FOR SEPTEMBERMenon Bearings limited
1.Stock is seen making a Bullish engulfing
2.Good volume is seen in the chart
3.Clear RSI Divergence is Seen
4.Stock is trending Above 200 Moving average
5.Taking suppport from 0.618 Fibonacci
6.Last but not the least ,Company with good fundamentals and high Pitroski score






















