Shyam Metalics share zooms 8% today; chart reveals this make-or-break level

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Shyam Metalics share zooms 8% today; chart reveals this make-or-break level - Business Standard

Quick Summary:

Shyam Metalics immediate resistance is at Rs 789 (20-DMA), Rs 803 (super trendline), Rs 813 (50-DMA), and 832.5 (100-DMA).

Shyam Metalics is one of the largest producers of ferro alloys in terms of installed capacity and the fourth-largest player in the sponge iron industry.

According to analysts, Shyam Metalics and Energy (SMEL) is rapidly evolving into one of the most diversified metal companies in India while significantly expanding its capacities in the value-added segment.