Usha Martin share price daily chart analysis
Usha Martin share on last trading session closed at 30 rupee with gain. On daily chart, stock above 29 rupee will remain bullish and buy. On upside 31 and 32.6 are targets zones for month of March. Below 29, expect technical supports at 28.2 and 26.6. daily chart indicators patterns are bullish and signaling bottom out patterns on chart.
Usha Martin share price weekly chart analysis
Usha Martin share on weekly chart showing flat gains for the week. After making high near 37.55 stocks is now correction and heading towards major average of 25-26. Above this level, medium term trend will remain bullish while current indicators pattern suggesting correction will continue in upcoming weeks.
On upside 32 and 38 rupee are strong resistances as well as 3-6 months target zones if prices sustain above 25 rupees. Below 25, next major support zones are 21 rupee and then 15.8 rupees.
Usha Martin share price monthly chart analysis
Usha Martin share in last 6 months had given 35% returns to investors and outperforming the market in medium terms. From fundamental perspective, company is ok ok but by valuation means slightly expensive. On downside 20-15 rupee is historic low zone and best entry zone for long-term investors. Usha Martin stock has all time high near 300, which was seen in 2007. While low near 15 rupee was seen almost 4 to 5 times in last 12 years.
12 to 21 rupee is best buy zone for upside targets of 30, which is achieved; in very short time and then 38 rupee will be next target zone for next 12 months period. 48-50 rupee is 3 years period targets for this stock. For 2014, stock above 26-27 rupee level will remain bullish and “buy” for traders.
Usha Martin company description
Usha Martin Limited is an India-based integrated specialty steel and steel products company. It operates in two segments: Steel, Wire and Wire Ropes, and Others. The Steel segment consists of steel wire rods, rolled products, billets, pig iron and allied products. The Wire and Wire Ropes segment consists of steel wires, strands, wire ropes, cord, bright bar, related accessories, including wire drawing and allied machines. Others include jelly filled telecommunication cables. The Company has an integrated steel plant near Jamshedpur (Jharkhand) and a rolling mill at Agra (Uttar Pradesh) producing wide range and sizes of specialty steel wire rods and bars, with captive iron ore and coal mines in Jharkhand. The Company’s other products include hot metal, pig iron,sinter, oxygen and power generation, primarily for captive consumption.
Usha Martin stock fundamental ratios
|Range||29.60 – 30.30|
|52 week||20.10 – 37.55|