🟦 SHYAM METALICS & ENERGY – Upside Momentum Building
Shyam Metalics and Energy is showing signs of upside momentum after a prolonged corrective and consolidation phase.
💰 Trade / Positional Plan
• CMP: ₹895
• Stop Loss: ₹774
🎯 Targets
• ₹958
• ₹1011
• ₹1132
📊 Technical View
• Stock remained in a broad range of ₹703–₹956 for ~6 months
• After falling from ₹988 → ₹754, price is now near 61.8% Fibonacci (~₹898)
• Holding and sustaining near this zone suggests strength returning
• Price action indicates potential range breakout and trend resumption
• If momentum sustains, structure can attempt fresh highs over time
📌 Trading Approach
• High volatility → keep quantity in check
• Prefer staggered entry
• Strict position sizing
• Patience trade, not a chase
• Avoid reacting to news flow; respect SL
⚠️ Clarification: Independent analysis. No part of Religare involved.
📝 Important: No responsibility for profit/loss. No fees charged.
📉 Disclaimer: Not SEBI-registered. Please do your own research.
✅ Range contraction + Fib support = potential upside, discipline decides outcome.
Shyam Metalics and Energy is showing signs of upside momentum after a prolonged corrective and consolidation phase.
💰 Trade / Positional Plan
• CMP: ₹895
• Stop Loss: ₹774
🎯 Targets
• ₹958
• ₹1011
• ₹1132
📊 Technical View
• Stock remained in a broad range of ₹703–₹956 for ~6 months
• After falling from ₹988 → ₹754, price is now near 61.8% Fibonacci (~₹898)
• Holding and sustaining near this zone suggests strength returning
• Price action indicates potential range breakout and trend resumption
• If momentum sustains, structure can attempt fresh highs over time
📌 Trading Approach
• High volatility → keep quantity in check
• Prefer staggered entry
• Strict position sizing
• Patience trade, not a chase
• Avoid reacting to news flow; respect SL
⚠️ Clarification: Independent analysis. No part of Religare involved.
📝 Important: No responsibility for profit/loss. No fees charged.
📉 Disclaimer: Not SEBI-registered. Please do your own research.
✅ Range contraction + Fib support = potential upside, discipline decides outcome.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.