Kalyani steels is roaring

١٤ سبتمبر ٢٠٢٣

What a buying pressure in Kalyani Steels. Daily chart volume rocks. ATH. It's on the path.

٢٧ أكتوبر ٢٠٢٣

ملاحظة

We could see buying pressure again this week creating long lower shadow. Stock retraced till 50% fib level forming Higher Low.

٢١ ديسمبر ٢٠٢٣

ملاحظة

CFO resigned due to personal reasons. Let's see how it turns out. Hope it doesn't go below 423.50 Oct 23 low.

١ يناير

ملاحظة

Flag breakout or Wedge breakout

١١ يناير

ملاحظة

First Resistance reached today at 625, Second Resistance is at 730 after first target and the Third Resistance is at 902 after second target

١٢ يناير

ملاحظة

Kalyani Steel emerged as the successful bidder to purchase the assets of Kamineni Steel and Power India, which were in liquidation. KSL has been consistently modernising its infrastructure and technology over the years. Their facilities are on par with those of any highly developed steel producer worldwide.

٢٩ يناير

ملاحظة

First Resistance 625 has been broken. Heading to 1st Target 682.25

٣٠ يناير

ملاحظة

Kalyani Steels CFO Mukand Maheshwar Withdrawn his Resignation

٥ فبراير

ملاحظة

Kalyani Steels Q3 result net profit 12% up QoQ. Stellar YoY. First target reached

٢٣ فبراير

ملاحظة

Kalyani Steels Since 2024 beginning fetched 72%. this dark horse surpassed metal, steel indices and top companies like tatasteel, jswsteel, jindalsteel.

Reached second target. Cup height was the target 2. Handle height was the target 1

This is my longest holding stock since 2018. 5.5Y 42% XIRR. I kept increasing my position like 8K or 10K throughout this period whenever there was a breakout and had money. I didn't know technical during 2018 to 2020. Sometimes, ignorance is a bliss. I believed on fundamentals and held it through covid and bought more during that time. Will share another chart of KSL with greedy theory.

Invested 3.74L
Current value 9.3L this includes all expenses, dividends

٢٣ فبراير

ملاحظة

<b>Kalyani Steels :</b> These 4 information I could think of since Jan '24 resulted in rising of KSL price

1. Q3 YoY Excellent numbers 12% QoQ & 68% YoY
2. Acquisition of liquidated Kamineni Steel and Power India seems to be strategic
3. Successfully negotiated a product price increase with 20-25% of its original equipment manufacturer (OEM) customers
4. Odisha cabinet approves Kalyani Steel’s aerospace manufacturing project

٢٣ فبراير

ملاحظة

Now to get prepared in case of downfall... Polycab..predicted 35% fall from ATH with its past drawdowns.

Let's assess the maximum drawdown this stock has given in the past from its ATH

24.10% since oct '23 - twice.
39.5 to 44.53% between 2021-2023 - 3 to 4 times

Let's assume today's high as ATH & expect to fall from Monday. Why? Despite huge volume, there is also huge selling pressure at 840. Hence the long wick at the top of the candle. Shooting star candlestick reversal pattern.

Recent drawdown is 24% twice. I assume this is the end of wave 2.

Beginning of 1st wave - Jan 12 '24 (1st swing high after consolidation)
Wave 1 to 2 - Jan 12 - Jan 24 '24 - pullback
Wave 2 to 3 - Big wave Jan 24 till now
Wave 3 to 4 - Pullback. Based on fall history. Let's assume 24%. Drew fib from Wave 2 to 3 to predict. 61.8% fib level comes around 24% fall from ATH which is 685. So from there, final 5th wave could come I guess..If momentum is so high, maybe it could reverse even at 50% fib level ~725.