Thermax has been trading in a range since March 2021.
Currently, it is trading near the upper end of the range, any breakout on the upside might take stock to new highs.
Energy Segment (75% of revenues) #
The company's energy segment comprises Process Heating, Absorption Cooling and Heating, Boiler and Heater and Power (EPC and Solar) businesses and related services. It is among the leaders in vapor absorption cooling and heating systems, with its chillers used worldwide for industrial refrigeration, air conditioning, process...
The stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 1:1
SL is placed below multiple major support zone and target is place near swing and channel high.
Note: As the market is under selling pressure, enter only after confirming a...
Price has been in a downtrend for a while. There is a perceptible slowdown in downside momentum recently. RSI positive divergence confirms that. Stock offers low risk entry.
