The Onward Tech team is strategically aligned to deliver digital and engineering services to Automotive, Rail, Industrial Equipment, Heavy Machinery, and Healthcare Original Equipment Manufacturers (OEMs) from North America and Europe.

In this technical analysis case study, we will explore a potential breakout opportunity in a stock named Onward Technologies Limited that exhibits a Darvas Box pattern, strong bullish momentum, and an overall Higher High-Higher Low (HH-HL) formation. The stock is trading at all-time high (ATH) levels, has experienced a successful bounce from the support zone, and displays a price-volume breakout on Thursday’s trading session. The analysis suggests another bullish run after breakout, the immediate support level is Rs 650.

According to the annual results, the net sales increased by 43.50 per cent to Rs 440.93 crore in FY23 over FY22. The company reported a net profit of Rs 11.48 crore in FY23 compared to a net profit of Rs 23.68 crore in FY22. 

On Friday, the Sensex rose by 355 points to close at 57,989.90, while the Nifty 50 gained by marginal 114 points to close at 17,100.05