MAITHON ALLOYS ready for 15-20% gains in short termDescending triangle breakout with volume spike
Above EMA50
RSI near 70 and rising
Great risk reward ratio
Watch out for short term !!!!
100.45INR
4.991BINR
28.747BINR
7.327M
About MAITHAN ALLOYS LTD.
Sector
Industry
CEO
Subodh Agarwalla
Website
Headquarters
Burdwan
Employees (FY)
1.799K
Founded
1985
ISIN
INE683C01011
Maithan Alloys Ltd. manufactures and exports manganese alloys. Its products include ferro silicon, ferro manganese, and silicon manganese. The firm also generates and supplies wind power. The company was founded by Subhas Chandra Agarwalla and Basant Kumar Agarwalla on September 19, 1985 and is headquartered in Burdwan, India.
MAITHAN ALLOYS LTD (ACCUMULATE)Sector: Ferro Manganese/ Industry: Ferro & Silica Manganese
Market Cap: 3,214.79 Cr. / Category: Small Cap
Current Price: 1096.75/- Target Price: 1279, 1301.2/- Stop loss: 998.6
Ticker: NSE: MAITHANALL Recommendation: BUY (Buy Around 1053 – 1049)
Date: 29/11/2023
Elliott Wave Theory Outlook – Maith
Maithani am not a SEBI register advisor, this is not a call to buy, its my personal opinion abt the chart.
the stock is technically good
MAITHANALL | Triangle breakout with volume -Potential for 30-40%MAITHANALL | Triangle breakout with volume - Looks potential for 30-40%
CMP :1100
SL : 1000
Target : 1500
1:4+ risk reward setup
Maithan Alloy on a multibagger journey
Solid Consolidation at a beautiful level
Valuation is very cheap
The sector looks like a solid breakout is underway.
Very strong fundamentals
Maithan AlloysVery Strong bullish momentum
Price entry 30 degree from top ( Break out)
Rejection-Re-test 45 degree from bottom.
Price abv all moving averages.
Good for long
MAITHAN ALLOYS MAITHAN ALLOYS BREAKOUT RETRACEMENT DOJI FORMATION TRADE VALID FOR ONE DAY IT IT CROSSES DOJI HIGH THEN BUY WITH 1:2 TARGET,as it has given breakout and formed doji on retracement
Long Term TrendOn the monthly and log chart, price is near a long term trendline. It is a 8 year old trendline starting from the low of 26 in 2004 and valid up till now. Price respected it more than 3 times and the same thing seems to happen now. Hence it is important to see the stock.
Maithan Alloys : A chance to buy after small fallVolume seems to be decreasing but RSI is increasing. RSI is showing bullish momentum but volume is decreasing. There may be short term fall and it will bounce back again continuing bullish momentum. If you want to enter now, you can get better entry after a small fall.
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