Usha Martin has been stuck in a broad range of 275 to 375 since July 2023. And in a narrower range of 330-351 since past few trading sessions. The chart attached has the above findings marked. A break above 351 today could mark breakout from short term consolidation. However levels of 370-375 need to be crossed convincingly and sustained for a major upmove.
The big overhang in this company is the frequent selling by Prashant Jhawar group. I think it will need a big newsflow/result to overcome this kind of supply.
disc: invested since a long time.
Subscribe To Our Free Newsletter |