Mazagon Dock Shipbuilders Ltd - Breakout Opportunity
Updated
Date: 13-Jun-2024
Rating: Buy - Positional Trade
LTP: Rs. 3,389.90
Targets: (1) Rs. 3,478 --> (2) Rs. 4,144 --> (2) Rs. 5,222
SL: Rs. 2,975 on daily close basis
Technical View:
• After breaking out from its 8 month's long sideways trend on 17-May-2024,
MAZDOCK has started moving in primary uptrend. Recently it was going through it's secondary downtrend.
• After touching the high of 3,478 on 30-May-2024, it has retraced 31% to 2,400 level.
• On 13-Jun-2024,MAZDOCK has broke out from its secondary down trend with high volume.
• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 64.74 and MACD is trading at 192.33.
• Looking strong from here onwards.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 3,389.90
Targets: (1) Rs. 3,478 --> (2) Rs. 4,144 --> (2) Rs. 5,222
SL: Rs. 2,975 on daily close basis
Technical View:
• After breaking out from its 8 month's long sideways trend on 17-May-2024,
MAZDOCK has started moving in primary uptrend. Recently it was going through it's secondary downtrend.• After touching the high of 3,478 on 30-May-2024, it has retraced 31% to 2,400 level.
• On 13-Jun-2024,
MAZDOCK has broke out from its secondary down trend with high volume.• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 64.74 and MACD is trading at 192.33.
• Looking strong from here onwards.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Note
14-Jun-2024---------------
LTP: Rs. 3,877.55
1st target of 3,478 reached. 14% up from suggested level.
Note
18-Jun-2024---------------
LTP: Rs. 4,178.25
2nd target of 4,144 reached. 23% up from suggested level.
Note
3-Jul-2024-------------
LTP: Rs. 4,684.55
38% up from suggested level.
Trade closed: target reached
4-Jul-2024-------------
LTP: Rs. 5,585.5
3rd target of 5,222 reached. 65% up from suggested level.
All 3 targets reached. CLOSING THE IDEA.
Disclaimer
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