Mazagon Dock cmp 4594.15 by Daily Chart view*Mazagon Dock cmp 4594.15 by Daily Chart view*
- Support Zone 3840 to 3920 Price Band
- Resistance Zone 4820 to 4960 Price Band
- Price Breakout above Falling Resistance Trendline
- Weekly Support at 4325 > 3920 > 3550 with Resistance at 4960 > 5265 > 5550 > ATH 5860
- *Decent probability maybe anticipated to breach across the Resistance Zone by the way the Volumes are building up over the past few days*
Mazagon
Mazagon Dock Shipbuilders Ltd - Breakout OpportunityDate : 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, NSE: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, NSE: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.
Mazagon Dock Shipbuilders Ltd - Breakout OpportunityDate : 17-May-2024
Rating : Buy - Positional Trade
LTP : Rs. 2,756.65
Targets: Rs. 3,228 ++
SL : Rs. 2,525 on daily close basis
Technical View:
• After touching the high of 2,484.70 on 8-Sep-2023 during it's previous uptrend, NSE:MAZDOCK is moving in sideways since Sep-2023 between 2,525 and 1,742 levels as indicated by dark orange lines in above chart.
• On 17-May-2024, NSE:MAZDOCK has broke out from its 8 month's long sideways trend with very high volume.
• NSE:MAZDOCK is currently trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is at 72.58 and MACD is at 79.62.
• Both RSI and MACD have given bullish crossover recently and are in support of further upward journey.
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.
Mazagon Dock Shipbuilders Ltd - Breakout OpportunityDate : 23-Apr-2024
Rating : Buy - Positional Trade
LTP : Rs. 2,258.65
Targets: (1) Rs. 2,492 --> (2) Rs. 2,900
SL : Rs. 2,040
Technical View:
• After touching the high of 2,484.70 on 8-Sep-2023 during it's previous uptrend, NSE:MAZDOCK is moving in sideways since Sep-2023 between 2,492 and 1,742 levels as indicated by dark orange lines in above chart.
• On 3-Apr-2024, NSE:MAZDOCK has broke out from its secondary downtrend, indicated by dark red line within the sideways trend. Based on this break out 2,492 can be considered as the 1st target for current swing within the sideways movement.
• If NSE:MAZDOCK will be able to break the higher level of current sideways movement i.e. 2,492, then 2nd target of 2,900 will be very much possible which is Fib. 1.61 level.
• Breaking 2,492 level will actually create double break outs. (1) Break out from current sideways movement and (2) Break out from the double bottom pattern, which is currently in making as indicated by gray lines in above chart.
• RSI is at 61.52 and MACD is at 50.27. Both are in support of further upward journey.
• CAUTION: If NSE:MAZDOCK is not able to break 2,492 level then it will continue in sideways movement targeting 1,742 level. If it fails to break 2,492 level then long positional position should be exited.
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.
Mazagon Dock Shipbuilders Ltd. - Mid and Long Term OpportunityDate: 16-Dec-2023
Rating: Buy (Mid Term as well as Long Term Opportunity)
LTP: Rs. 2,082.85
Target: (1) Rs. 2,360 --> (2) Rs. 2,484 --> (3) Rs. 2,943++
Outlook: To counter China in Indian Ocean region, India plans to have 160 warships by 2030 and 175 by 2035 at an estimated cost of two trillion rupees. NSE:MAZDOCK is considered one of the beneficiaries.
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.
Mazagon Dock Looks Extremely StrongMazagon has given a very strong breakout with all defence theme related stocks moving in today's market. Keep a Stop Loss at 910 and continue to hold. This stock completed its correction properly and then moved ahead. Good pick in my opinion.
