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Item Details | Price |
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ISMT is basing from Dec 2021 on a weekly time frame. Recently ISMT broke the trendline on higher volume. It took multiple support on the lower support line with a shakeout.
ISMT needs to sustain the above trendline for any upwards move from here.
ISMT showed a positive price action on a daily time frame too. It filled the gap down zone and well came out from cup with handle pattern. It is trading above the resistance zone created by the gap-down area. It showed great strength on 25th Jan 2023 while the overall market was weak.
Further consolidation near the current zone may create a good swing opportunity from here.
CNMETAL showed some weakness last week and currently trading near the support zone after breaking the trendline on the downside. There is a potential here to start double bottom strength on the upside while if it broke from here then a significant fall can spot.
Financial Results (Q3 FY2023) - QoQ Comparison:-Net Profit degrow by 4.46% as reported profit is 30.30 cr while income also degrow by 15.49%.
Financial Results (Q3 FY2023) - YoY Comparison:-Great number YoY reported by ISMT. The income grows by 11.98%, net profit +142% while EPS +120.43% in the recent quarterly number published.
Analysis done by:
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.
Disclaimer: The views and analysis shared here are for educational purposes only. This is in no way to be considered as any Investment / Trading advice.