Breaking Out of Falling Wedge and Symmetrical Triangle

2 Nov 2024

SYRMA is breaking out of Falling Wedge and Symmetrical Triangle Breakout on Weekly TF. With 2nd Best Weekly Volumes.

SYRMA is a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS). The company provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation and product realization.

Recently it posted good Q2 FY 24-25 Results, posting a 30% Y/Y rise in Q2 consol profit after tax. The auto and healthcare businesses led growth in Q2 and will drive future growth further ahead. Also, expect a recovery in margins fuelled by higher exports and design and manufacturing businesses. SYRMA faces margin challenges as the consumer segment, which comprises 35%—38% of topline, operates with lower margins, and they are aiming to lower the segment's share further.

One can wait for a retracement or ride the momentum with the current week candle as stop loss.

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Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

6 Nov 2024

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