Stock of Interest

Posted On: September 15, 2023

Stock Report: RAMASTEEL(NSE) 14 Sep 2023

Rama Steel Tubes Ltd is a manufacturer and exporter of steel pipes, steel tubes, galvanized pipes, fence pipes, electrical conduit pipes, scaffolding fittings, hollow section, square steel pipes, and square steel tubes. The firm’s only segment is the manufacturing and trading of Steel Tubes Pipes and Steel allied products. It also manufactures and exports hollow section for the automobile industry, including highway and street lighting poles, as well as traffic signal poles. It operates its business across the world and generates most of its revenues from India.

#xCalData predicts that # RAMASTEEL will continue its bearish phase over the next five days and trend within the range of 36 to 39.  

In comparison to the previous month, the price of the stock has experienced a decline of 4.38% indicating a bearish.

The Stock has doubled thrice since 07 Sep 2015 and took an average of 2.4 years to double.

The stock has shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 4 years in the past. 

Majority of the technical ratios trend towards Bearish side of the spectrum. Only some of the technical indicators namely OBV indicate Bullish view. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days.  

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