Technical Setup (Daily Chart Analysis)
CMP: ₹223.89
Zone: Price testing a major horizontal resistance at ₹224–228 zone — acting as a neckline from past multiple swing highs.
Structure: Cup & Handle formation on higher timeframe (bullish continuation pattern).
EMAs (5/9/20): Trending above all short-term EMAs (215–216 zone), showing strength.
RS Line: Outperforming the index recently, relative strength turning up.
Volume: Spike on recent green candles — accumulation visible.
🔔 Positional Trade Plan
Breakout Entry: Above ₹229
Stop-loss: ₹209 (below handle base)
Target 1: ₹255
Target 2: ₹280
Risk–Reward: 1:2+ if breakout sustains
🧾 Fundamental Snapshot
Metric Value
Market Cap ~₹1,300 Cr
P/E (TTM) 22.6x
ROCE ~16.5%
ROE ~15.8%
Debt-to-Equity ~0.66
Sales Growth (3Y CAGR) 30%+
Net Profit (FY24) ₹61 Cr
Promoter Holding 44.3%
Cash Flows Positive and growing
🔹 Business: Manufacturer of wire ropes, specialty wires, and other lifting products, catering to infra, railways, cranes, mining, and oil & gas sectors.
🔹 Positives: Robust profit growth, healthy margins, and strong revival in earnings. Debt has been reducing steadily.
🔹 Tailwinds: Infrastructure, logistics, and defense investments boost medium-term prospects.
CMP: ₹223.89
Zone: Price testing a major horizontal resistance at ₹224–228 zone — acting as a neckline from past multiple swing highs.
Structure: Cup & Handle formation on higher timeframe (bullish continuation pattern).
EMAs (5/9/20): Trending above all short-term EMAs (215–216 zone), showing strength.
RS Line: Outperforming the index recently, relative strength turning up.
Volume: Spike on recent green candles — accumulation visible.
🔔 Positional Trade Plan
Breakout Entry: Above ₹229
Stop-loss: ₹209 (below handle base)
Target 1: ₹255
Target 2: ₹280
Risk–Reward: 1:2+ if breakout sustains
🧾 Fundamental Snapshot
Metric Value
Market Cap ~₹1,300 Cr
P/E (TTM) 22.6x
ROCE ~16.5%
ROE ~15.8%
Debt-to-Equity ~0.66
Sales Growth (3Y CAGR) 30%+
Net Profit (FY24) ₹61 Cr
Promoter Holding 44.3%
Cash Flows Positive and growing
🔹 Business: Manufacturer of wire ropes, specialty wires, and other lifting products, catering to infra, railways, cranes, mining, and oil & gas sectors.
🔹 Positives: Robust profit growth, healthy margins, and strong revival in earnings. Debt has been reducing steadily.
🔹 Tailwinds: Infrastructure, logistics, and defense investments boost medium-term prospects.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.