USHA MARTIN | TECHNO-FUNDA ANALYSIS

Usha Martin Ltd – 1D

Trend: The stock remains in a strong uptrend forming higher highs and higher lows. After a solid rally, it has given a fresh breakout above ₹449.80 and is now undergoing a healthy retest, showing strength near its support zone. Key Levels - Fresh Breakout Level: ₹488.65 Retest Level / Immediate Support: ₹449.80 Major Support Zone: ₹398.45 Fundamentals (Key Points): 🧵 Leading steel wire rope manufacturer with strong global presence. 📈 Increasing demand in infrastructure and mining sectors aiding revenue growth. 💰 Steady improvement in profit margins and debt reduction. 🌍 Export opportunities expanding amid domestic capacity growth. ⚠️ Monitor raw material cost fluctuations impacting near-term margins. Final Verdict: Bullish — Retesting after breakout; sustaining above ₹450 can push the stock toward ₹485–₹500 levels in the short term.