๐
MAHABANK
Technical Analysis (Jan 3, 2024) ๐
Current Price: โน47.10 INR
Technical Observations:
1. Support Levels:
โข Began the day above 0.50, a key support level. ๐ก๏ธ
2. Fibonacci Levels:
โข Surpassed the 0.618 Fibonacci level, suggesting upward momentum. ๐
3. Parabolic SAR:
โข Awaiting a bi-signal for a potential short-term bearish trend. ๐
4. RSI & Stochastic RSI:
โข K value at 40.04 and D value at 27.90, indicating an oversold condition. ๐ฐ
5. MACD:
โข Observing a potential crossover with MACD at 0.27 and 0.22. ๐ค
6. EMA & MA Crossover:
โข Anticipating a 50-day and 200-day EMA and MA crossover in the next two days. ๐ฎ
Fundamental Analysis:
โข Price to Earnings Ratio: At 9.14, indicating the stock is still potentially undervalued. ๐ผ
โข Income Statement Trends:
โข Net margins showing a nearly flat yet improving trend. ๐
โข Increasing net profit, supporting a positive outlook. ๐น
Trade Strategy ๐:
โข Entry Point: Entry recommended if stock opens at โน0.614 or above on Jan 4, 2024. ๐ฏ
โข Target Prices:
Disclosures and Disclaimers:
โข Analysis is a personal opinion, not financial advice.
โข No financial advisor-client relationship established.
โข Trading involves risk; assess your financial position.
โข Information may contain errors; verify independently.
โข No liability for reliance on this analysis.
โข Past performance not indicative of future results.
โข No conflict of interest declared.
Hashtags:
#BankOfMaharashtra #TechnicalAnalysis #TradingView #StockMarket #Finance #Investing StockAnalysis #Fundamentals #P/E #NetMargins #TradingStrategy
Current Price: โน47.10 INR
Technical Observations:
1. Support Levels:
โข Began the day above 0.50, a key support level. ๐ก๏ธ
2. Fibonacci Levels:
โข Surpassed the 0.618 Fibonacci level, suggesting upward momentum. ๐
3. Parabolic SAR:
โข Awaiting a bi-signal for a potential short-term bearish trend. ๐
4. RSI & Stochastic RSI:
โข K value at 40.04 and D value at 27.90, indicating an oversold condition. ๐ฐ
5. MACD:
โข Observing a potential crossover with MACD at 0.27 and 0.22. ๐ค
6. EMA & MA Crossover:
โข Anticipating a 50-day and 200-day EMA and MA crossover in the next two days. ๐ฎ
Fundamental Analysis:
โข Price to Earnings Ratio: At 9.14, indicating the stock is still potentially undervalued. ๐ผ
โข Income Statement Trends:
โข Net margins showing a nearly flat yet improving trend. ๐
โข Increasing net profit, supporting a positive outlook. ๐น
Trade Strategy ๐:
โข Entry Point: Entry recommended if stock opens at โน0.614 or above on Jan 4, 2024. ๐ฏ
โข Target Prices:
- โข First Target: โน48.85 ๐
- โข Second Target: โน50.55 ๐
- โข Stop Loss: If price falls below โน45.20. ๐
Disclosures and Disclaimers:
โข Analysis is a personal opinion, not financial advice.
โข No financial advisor-client relationship established.
โข Trading involves risk; assess your financial position.
โข Information may contain errors; verify independently.
โข No liability for reliance on this analysis.
โข Past performance not indicative of future results.
โข No conflict of interest declared.
Hashtags:
#BankOfMaharashtra #TechnicalAnalysis #TradingView #StockMarket #Finance #Investing StockAnalysis #Fundamentals #P/E #NetMargins #TradingStrategy
Trade active:
We need to maintain the position as such.
Trade closed: target reached:
Target Overshot and one of the best performance.