SHAYM METALICS 7 MTHS CONSOLIDATION WILL IT SUSTAIN ?

Shyam Metalics And Energy Ltd. is another interesting chart

1. 7 month's Consolidation breakout in the chart
2. RSI on all time frames above 60
3. Price Breakout with huge Volume candles
4. ABCD pattern on weekly chart
5. Major supports with cluster of moving averages in zone of 665 - 720 which can act as multiple support area.


Fundamentally

Company has reduced debt.
Company is almost debt free.
Company's working capital requirements have reduced from 34.1 days to 12.1 days


Lets See How it Evolves.

Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.