Ram Krishna Forging has been one of the few stocks that has done well since the last market correction that started in Oct-22. It has moved up by more then 20% since Oct-22 and just hit ATH of 310, while closing the week at 304 with heavy vol last Thursday.
On weekly charts, 10wma>30wma>40wma. The consolidation happened between Oct-21 and Jul-22 when the price moved from 252 to low of 146 and then broke out on heavy vol.
Fundamentally speaking, company is the L1 bidder for supply 1.6million wheels to Indian Railways in a consortium with Titagarh wagons over a period of 20 years. (80K wheels per annum).
Disc.: Invested as technical funda bet.
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