Steel Strips Wheels hits upper circuit on strong Q2 results

Steel Strips Wheels rose to the 20% upper circuit limit of ₹468.75 on 23 October 2026 after strong Q2 FY27 results, with support at ₹378. Steel Strips Wheels Limited [

] rose to its 20% upper circuit limit of ₹468.75 on 23 October 2026, a record high. The nearest support is ₹378, today’s low, close to a recent swing low. The trigger was the Q2 FY27 result, announced the same day. Consolidated revenue grew 60.7% from a year ago to about ₹1,930 crore. Operating profit more than doubled, and net profit rose 229% to ₹116.95 crore. Today’s candle is a wide range bullish bar with volume far above normal. News driven jumps often see some profit booking later. The major trend is strongly bullish. The chart shows clear higher highs and higher lows since April. The relative strength index is near 70, which signals strong momentum but also a stretched move. The stock is in untouched territory, so no resistance is visible on the chart. What next: A hold above ₹378 may keep the structure intact. A close below it may signal cooling. Traders may watch the earnings call on 26 October 2026. Conclusion: The trend is bullish, but the move looks stretched after one session. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.