#Shyam Metallics - One of the newer gems to consider early entries.
- Attractive FA
- Downtrend completed.
- Consolidation baseline formed.
- Inverted Head and Shoulder Completed.
- Clear signals of upside breakouts.
this week double bottom breakout observed in Shyam Metalics(CMP 370).
Short term target 398 if this week closing observed above 378. 2nd target 459 and then 523(time 6-12 months).
Disclaimer: this is my chart analysis not personal opinion to buy, before buy consult your money adviser. i am not sebi register person.
buy above 360 in intraday and swing
for swing keep stoploss 330 DCB
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical...
Shyam metal is near to support zone and if we take position from here can see a good upside move.
CMP: 375 rs
Entry: Between 365 rs to 380 rs
SL: 357 rs
Target: 1st- 415 rs (Book 80% profit here.) 2nd- 450 rs
Please share with your family and friend if you like the idea to go long. This chart is only for educational purpose. Consult with your...
Shyam Metalics and Energy seems to have completed ABC zig zag correction at 300 and came out of channel.
Channel breakout confirmed after it crossed 338 and while coming out formed rising wedge pattern or leading diagonal pattern.
Leading diagonal are found at start of new trend.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
With Nifty Metal Index breaking out today , lets see how Shyam Metalics NSE:SHYAMMETL can play out from here...
Stock was clearly in downtrend, making Lower Highs and Lower Lows (blue & red highlights on the chart).
But it can reverse from here now. How? Here are some observations:
- It recently took support at IPO Price
- Made first Higher High...
This is Daily Timeframe.
For last 6 months, Shyam Metalics is in downtrend.
Downtrend was smooth, but things changed after the Mid-December.
It rejected downward move by forming a hammer candle on 20th Dec. 2021.
After this, it started showing some strength, formed bullish candles with volume support.
Then after small retracement, it again formed a hammer candle...
Shyam Metalics & Energy Ltd. is engaged in the manufacturing and sale of ferro alloys, iron & steel products and power generation. The company was founded on December 10, 2002 and is headquartered in Kolkata, India.