Shares of Mazagon Dock are buying and selling 26% lowered to their doc excessive gotten to in July this yr. The provide, which struck a doc excessive of Rs 5859.95 on July 5, 2024 was buying and selling at Rs 4,338 right now, down 26% all through the length. The provide has truly been extraordinarily unpredictable all through the final one yr, with a beta of 1.4. In the current session, the multibagger provide was buying and selling 1.14% lowered at Rs 4335 agains the earlier shut of Rs 4382.90. Market cap of the corporate slid to Rs 87,472 crore. Mazagon Dock shares have truly acquired 101% in a yr and elevated 594% in 2 years. The provide has truly zoomed 1521% in 3 years.
Total 0.35 lakh shares of the corporate remodeled fingers totaling as much as a flip over of Rs 15.49 crore.
In regards to technicals, the beloved one stamina index (RSI) of Mazagon Dock stands at 54.4, indicating it’s buying and selling neither within the overbought neither within the oversold space. Mazagon Dock shares are buying and selling better than the 5 day, 10 day, 20 day, one month, 100 day, 150 day, 200 day nevertheless lower than the 50 day relocating commonplace.
Shiju Koothupalakkal – Technical Research Analyst, PL Capital-Prabhudas Lilladher said, “The stock has witnessed a decent erosion from the peak zone of Rs 5860 and recently, after making a low of Rs 3852, has indicated a decent pullback with currently having a positive candle formation with significant volume participation to move past the confluence of 50EMA and 200 period MA at 4315 zone, improving the bias and anticipating for further rise in the coming days. The RSI has indicated a positive trend reversal from the highly oversold zone to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking very attractive, one can buy the stock for an upside target of Rs 5100, keeping the stop loss of Rs 4000.”
Osho Krishan, Senior Analyst – Technical & & Derivatives, Angel One said, “Mazagon Dock has undergone profit booking, followed by a time-wise corrective phase after the vertical rally. Currently, the stock has seen some support near its 100 DEMA on the daily time frame chart and showcased a sign of respite from its corrective phase. On the level-specific front, Rs 4200, followed by Rs 4000, is likely to provide cushion to any upcoming blips in the near future. While on the higher end, Rs 4800- Rs 4900 (Bearish Gap) is the crucial hurdle, and momentum is likely to return once it breaches the same authoritatively.”
Ameya Ranadive, CMT CFTe and Senior Technical Analyst at StoxBox has truly designated a charge goal of Rs 4,750- Rs 4,900 for mid-term capitalists. Stop loss could be handled at Rs 3,800.
“Mazagon Dock is experiencing a phase of profit-booking as the stock consolidates in both time and price. Despite the pullback, the stock has recently regained strength, moving above its 20- and 50-day EMAs, a positive signal for a potential upward move. With its current technical setup, it presents an appealing buy opportunity at these levels. However, the real momentum could kick in once the stock breaks above Rs 4,700, which may unlock significant upside potential. A mean-reversion trade strategy could be viable here, with long positions being considered as long as the price remains above the 100-day EMA, where a stop-loss could be placed for risk management. However, caution is advised if the stock breaches the Rs 3,800 level, as that would indicate a shift in sentiment,” said Ranadive.
Sebi- signed up research professional AR Ramachandran said, “Mazagon Dock stock price is bullish on the Daily charts with strong support at Rs 4150. A daily close above the resistance of Rs 4544 could lead to a target of Rs 5,000 in the near term.”
Mazagon Dock Shipbuilders Ltd (MDSL) is a number one help public market job shipyard underneath the Ministry of Defence (MoD). Mazagon Dock is basically participated in constructing and fixing battleships and submarines for MoD and numerous different types of vessels i.e. freight ships, multi-purpose help vessels, barges and boundary stations, pulls, dredgers, water vessels, and so forth for industrial clients.
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