Syrmasgs
New Age Tech (Syrma)upon analyzing the stock i have come to the conclusion that the stock has concluded wave 2 in recent time...
Syrma SGS Technology can really step up the manufacturing game.Syrma SGS Technology Ltd. engages in electronic designing and manufacturing services. It manufactures various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies adapters, fiber optic assemblies, magnetic induction coils and RFID products and other electronic products. The firm operates through segments including Electronic Manufacturing Services and Others.
Syrma SGS Technology Ltd CMP is 501.15. The positive aspects of the company are Company with Low Debt, Improving Net Cash Flow for last 2 years, Company with Zero Promoter Pledge, FII / FPI or Institutions increasing their shareholding and Mutual Funds Increased Shareholding over the Past Two Months. The Negative aspects of the company are Inefficient use of capital to generate profits, Declining Cash Flow from Operations for last 2 years, Companies with weak financials and High PE (PE=82.9).
Entry can be taken after closing above 526. Targets in the stock will be 591, 629 and 674. The long-term target in the stock will be 702. Stop loss in the stock should be maintained at Closing below 388.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
SWING IDEA - SYRMA SGSA potential swing trade opportunity in Syrma SGS , a notable player in the electronics manufacturing industry.
Reasons are listed below :
The stock exhibited resilience as it rebounded strongly from the 450-500 support zone, suggesting a false breakdown and indicating underlying strength.
A hammer candlestick formation on the weekly timeframe signals a potential reversal, hinting at a shift from bearish sentiment to bullish momentum.
Finding support at the 0.5 Fibonacci level further bolsters the bullish outlook, providing a solid foundation for potential upward movement.
The 50-period Exponential Moving Average (EMA) on the weekly chart acts as additional support, reinforcing the bullish bias.
Notable increase in trading volumes reflects heightened market interest and potential accumulation by investors, adding weight to the bullish case.
Syrma SGS has demonstrated a pattern of higher highs, indicating a trend of increasing bullish momentum and reinforcing the potential for upward movement.
Target - 570 // 670
Stoploss - weekly close below 448
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
