#Long on Maharashtra Seamless for Medium Term
Updated
After reaching an ATH of 377.50 in Jul'27, Maharashtra Seamless broke out of falling wedge pattern in the month of Oct'21 rising 55% in a single month.
Further, this was followed by formation of small bullish candles on monthly time frames and then entering a correction phase for next six months.
The next phase of rally started in Mar'23 in which the stock has more than doubled, rising relentlessly from a low of 303.85 to that of 614.20.
Furthermore, last month the scrip broke out of a rising channel and gave 14.22% returns. The stock has TTM PE ratio of 8.9, has strong financials and has an affordable valuation.
Further, this was followed by formation of small bullish candles on monthly time frames and then entering a correction phase for next six months.
The next phase of rally started in Mar'23 in which the stock has more than doubled, rising relentlessly from a low of 303.85 to that of 614.20.
Furthermore, last month the scrip broke out of a rising channel and gave 14.22% returns. The stock has TTM PE ratio of 8.9, has strong financials and has an affordable valuation.
Note
Target 1 achieved on 3rd Nov'23Note
Target 2 achieved and surpassed today i.e. 15th Nov 2023!!
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