STEELCITY ready for quick move?STEELCITY ready for a quick move?
Technically, it looks good, and volume is also increasing, but only one thing needs careful entry.
Above 99/100 only this can make strong move, be patient.
STEELCITY trade ideas
STEEL CITY : MOMENTUM TRADE
Positive uptrend.
Breakout above resistance of 76 with good volume
Bullish candle on weekly chart
RSI is showing solid strength
TARGET -1 : 100
TARGET -2 : 110
STOP LOSS: 79
**These are my personal observations. Please trade at your own risk.*
STEELCITY - Steel City Securit - An Overview to BuyThe chart shows the stock's price over time, as well as some technical analysis indicators.
As of February 17, 2024, the stock is trading at 81.40. This is down from its high of 81.50 for the day, and up from its low of 80.95. The stock is currently in a buy zone, according to the technical analysis indicators on the chart.
The chart also shows some support and resistance levels for the stock. The support level is at 74.50, and the resistance level is at 88.25. If the stock price falls below the support level, it could be a sign that the stock is going to continue to fall. If the stock price rises above the resistance level, it could be a sign that the stock is going to continue to rise.
Overall, the technical analysis of the stock suggests that it is in a buy zone. However, it is important to remember that technical analysis is not always accurate, and you should always do your own research before making any investment decisions.
Here are some additional things to consider when researching STEEL CITY SECURIT:
The company's financial statements
The company's news and announcements
The overall market conditions
Your own investment goals and risk tolerance
STEEL CITY SECURIT's high, low, support, and resistance levels:
High and Low:
52-week high: 104.40 (reached on August 10, 2023)
52-week low: 65.25 (reached on May 12, 2023)
Current price: 81.40 (as of February 17, 2024)
Support and Resistance:
Support: 74.50, 66.15, and 61.20
Resistance: 88.25, 95.50, and 104.40
Please note: These support and resistance levels are based on technical analysis and are not guaranteed to be accurate. The actual price of the stock could move above or below these levels. It is important to do your own research before making any investment decisions.
Also remember that this is my own opinion and not an investment advice because I am not SEBI registered
Thanks for your support as always
STEEL CITY SECURITIES Company is almost debt free.
Stock is trading at 1.16 times its book value
Stock is providing a good dividend yield of 3.40%.
Company has been maintaining a healthy dividend payout of 38.7%
Promoter holding has increased by 1.12% over last quarter.
STEELCITY SECURTIESSteel City Securities, established in 1994, is a leading stock broking and e-governance service Company having pan India presence. Head quartered in Visakhapatnam, the company provides whole range of financial services to its clients through a well established network of branches and offices. It is an ISO 9001:2008 certified company having business operations in 30 states across India. It has a diversified business portfolio covering Capital Market services, E- governance services, Investment advisory in the form of distribution of Mutual Funds, Bonds, IPOs & Corporate Fixed Deposits, Currency Trading, Commodity Broking, Insurance Distribution & NBFC services.
STEELCITY #STEELCITY 63 to 90 #Invest #Trading #IT #IRON #STEELNSE:STEELCITY
NSE:STEELCITY
STEELCITY
CMP: 63.80
Target 90
SL: 55
TF < 3 months
Return > 44%
RR > 3
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
dark horseWorking capital cycle
The Working Capital Cycle for a business is the length of time it takes to convert net working capital (current assets less current liabilities) all into cash. Businesses typically try to manage this cycle by selling inventory quickly, collecting revenue from customers quickly, and paying bills slowly, to optimize cash flow.It is used to understand the liquidity and efficiency of the company. The longer the working capital cycle the lesser is the chances of the generation of quick cash and shorter the working capital cycle the higher the turnover ratio thus generating more cash for the business. Hence, the outside debt or loan requirement becomes less which increases the efficiency quotient of the business
