The stock’s recent strength reflects renewed investor interest and positive price action in the broader industrial and auto components space.
The stock of Ramkrishna Forgings has appreciated 10 per cent so far this week and is up 28 per cent so far in April. The rally has resulted in the scrip surpassing notable resistance levels at ₹565 and ₹590, which henceforth will act as supports.
In the forthcoming sessions, there is a chance for the price to retest ₹565. But then, the price action shows the trend has turned bullish, so the stock will resume its rally after the minor decline.
We expect the stock to appreciate to ₹720. Therefore, go long at ₹599 and accumulate at ₹575. Place initial stop-loss at ₹540. When the stock touches ₹650, raise the stop-loss to ₹600. On a rally to ₹700, alter the stop-loss to ₹670. Exit at ₹720.
Video Credit: Businessline
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on April 30, 2026
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