Mishra Dhatu Nigam Ltd. ( 40% upside potential )
Sector: Iron & Steel
WTF as we can see MTF & DTF structure bullish and price makes HH & HL pattern and now price in DAILY demand zone with RSI bullish divergence and bollinger band lower band support.
LTF say 1H mitigation in DTF demand zone with RSI bullish divergence and bollinger band lower band support.
on DAILY TF RSI N BOLLINGER BAND also support the IDEA...
counter trendline on daily chart may react as a resistance once it broke it will b rocket...
price may face resistance at 425-445 as DAILY supply zone, 500 HTF supply zone....
so plan your trade accordingly...
Who's gonna trade with me for this trade IDEA let me know.....
Trade closed manually
1-MIDHANI available at very high valuation now..
2-in the absence of any recent triggers for the script , time correction may b expected.
3- compony products and its clients are govt or govt centric organisation.
4- steel sector suffers from china effect n demand new anti dumping policy now.
5- low devidend stock offers 0.36 DY...
becoz of above reasons this stock is not gud for swing as well as long term investors....
kindly exit at breakeven...
Note
as anticipated time correction....
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