The promoters have sold a large chunk of land which led to some major debt reduction.
Debt was a major concern here which is not been reduced and promoters are actively trying to reduce it further.
Additionally the business of specialty steel esp in Auto is really picking up..
The stock has broke its downward trend and this too could be forming a nice cup and handle pattern..
Long above 145 with a stoploss below 135..This stock could first come down once more too high 130 levels before the actual breakout..so watch for one failure and maybe keep the initial allocation low.
Debt was a major concern here which is not been reduced and promoters are actively trying to reduce it further.
Additionally the business of specialty steel esp in Auto is really picking up..
The stock has broke its downward trend and this too could be forming a nice cup and handle pattern..
Long above 145 with a stoploss below 135..This stock could first come down once more too high 130 levels before the actual breakout..so watch for one failure and maybe keep the initial allocation low.