Short term trade recommended on SCI at CMP 270-275 with first target of Rs. 340 and stop loss of Rs. 240
Technicals – The stock has given swing breakout around 240 levels on high volumes after restesting 17 year breakout and forming an intermediate low in Mar’25.
Fundamentally, stock is buoyed on back of Government’s focus on shipping sector (recently approved 69000 Cr package for the sector). This is likely to help in fleet expansion as well as upgrading the ageing fleet.
Disclosures: We do not own the stock. Read all disclaimers carefully https://investkaps.com/disclaimers