Syrma SGS Technology Surges Past Key Resistance: SEBI RA Sees Potential Upside Of Over 30%

Syrma SGS Technology has been on an outstanding bull run, having closed in the red just once in the past 13 sessions. The stock hit a new record high of ₹682.50 on Thursday, adding to 24% gains over the last one month. 

Syrma SGS stock confirmed a breakout above the upper trendline, supported by a strong bullish candle and higher-than-average volume, signs of renewed upward momentum, noted SEBI-registered analyst Manish Kushwaha. The breakout marks a potential continuation of the broader uptrend.

The immediate resistance lies near ₹700, a psychological level and previous swing high, he added. If the stock manages to hold above this mark with sustained volumes, it could quickly move toward the ₹780 - ₹800 zone.

A major support is seen around the ₹590 - ₹600 zone, which also aligns with the lower trendline, offering a firm risk-reward setup for fresh entries.

The relative strength index (RSI) is nearing 70, suggesting the possibility of short-term consolidation or a mild pullback. However, overall sentiment remains bullish, the analyst said.

New positions can be bought at the ₹677 - ₹680 range, with potential upside targets of ₹760, ₹840, and ₹900 over the medium term, a 33% upside to the upper band. Kushwaha recommended a stop loss at ₹580.

Retail sentiment on Stocktwits turned ‘extremely bullish’ from ‘bullish’ a week earlier, amid ‘extremely high’ message volumes.

Syrma SGS Technology is reportedly planning to set up India’s largest multi-layer PCB (Printed Circuit Board) and CCL (Copper Clad Laminate) manufacturing facility in Andhra Pradesh, in collaboration with South Korea’s Shinhyup Electronics. The total investment for the project is estimated at ₹1,800 crore.

The project, likely to be commissioned by 2026–27, may also benefit from central Production Linked Incentive (PLI) schemes and state-level incentives such as capital subsidies and skilling support.

The stock has gained 13.5% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com