Marine Electrical Ltd is showing signs of recovery with a bounce from the recent support near ₹210. The stock is currently trading around ₹217 with RSI moving upwards, suggesting renewed buying momentum. Financials reflect strong quarterly growth in sales and profit, with operating profit reaching ₹20.45 crore in March 2024, showing resilience. This setup suggests potential upside toward ₹240-₹250 in the near term, with stop-loss below ₹200 for risk control. Ideal for positional traders looking for value recovery with a bullish outlook.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.