score:6
It matches the description of a US M70 57mm AP-T (Armor Piercing with Tracer) shot which has lost its rifling band.
The M70 AP Projectile is a solid shot of hardened steel with a cavity machined into the base to receive a tracer. The ogive is continued to a point, and has a radius of 3.14 inches. A waved or knurled recess 0.79 inch wide is machined into the shot 1.01 inches above the base to receive a copper rotating band. A cannelure for receiving the crimps from the cartridge case is located 0.51 inch behind the rotating band.
The tracer charge consists of approximately 73 grains of red tracer composition in the form of 3 solid pellets and 20 grains of igniter charge in one pellet. The tracer charge is sealed into the tracer cavity with a clear celluloid cup cemented into place. The tracer burns for about 3 seconds.
It could also be a British 6 pounder (also 57mm) AP shot which has either lost its cap, or never had one in the first place (British Marks 1-7).
Both were used by the Ordnance QF 6-Pounder (and the nearly identical US 57mm M1) which was used by Israel.
Solid shot is safe to handle, but please take it to an expert to be sure.