CHART ANALYSIS OFMAZAGON DOCKYARD SHIPBUILD LTD (MAZDOCK)
Chart Analysis :- On Hourly TF of MAZDOCK we can see that stock is forming Inverted Head and shoulder pattern which is Bullish signal for the stock and it also given a breakout from neckline and taking support on neckline so we can see that up move in the stock to our expected targets. We can take confirmation of indicators like
• DMI – ON DMI indicator DI+ line is above the DI- line and ADX is also supporting which is above 29
• RSI – RSI currently in a oversold range which means we can see a little consolidation near neckline before the up move
• MACD – MACD is also showing Bullish signal we see from rising volume and a golden Cross.
Entry point- 270 - 271
Targets -
277
283
295
Stoploss –
• 260
Disclaimer:- This chart is for Educational purpose , I am not a SEBI registered analyst please do your own research before investing.
Trade closed: stop reached:
Stop Loss hit!!!!