Maithan Alloys- Ascending Triangle Breakout Possible?monthly t/f charts suggestive of c&h pattern in formation
chart worth following, fundamentals are good, only concern I see in fundamentals is the squeezed OPM
MAITHANALL trade ideas
Maithan Alloys Breakout from Descending Triangle✅Maithan Alloys has decisively broken out of a descending triangle pattern on the daily chart, crossing the resistance at 1180 with strong bullish momentum. Sustaining above this level could drive the stock towards 1280–1300 levels in the near term. RSI above 70 indicates strong buying interest, supported by increased volume, making it a favorable setup for positional traders.
MAITHANALL - Weekly AnalysisIn the Weekly Chart of MAITHANALL ,
we can see that; it is inside a channel.
It has given small Cup & Handle breakout.
Let it retest and then enter with SL and targets and go long.
Expected momentum is shown in chart.
maithan alloy bullishdaily rsi is rising with an explode on directional index.
buy for 20-25% upside with 7% sl.
Institutions Building Position -volume showing strngth
-rsi strong
-indicators also showing momentum in stock is possible
keep in radar it can give 20% upside move from here
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 !!!!
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 – Maithan Alloys, Buying the Dips around 1053 – 1049 zone.
November 29, 2023 By Dinesh Naidu
In this technical research analysis we’re going to take a quick look at
the Elliott wave chart of Maithan Alloys ltd. As our members know, the stock is showing
impulsive bullish sequences that are calling for further strength. Our team recommended
members to avoid selling, while keep favouring the long side. Recently we are in
corrective structure in a smaller time frame. In the further text we are going to explain
the Elliott Wave Forecast and trading strategy.
The stock is giving us wave (ii)) pull back that is unfolding as a Zigzag pattern in a smaller
time frame. The price might reach extreme zone at 1053 - 1049. We don’t recommend
selling the stock and prefer the long side from the 61.8 & 78.6% Fib levels. As the main
trend is bullish, we expect to see at least 3 waves bounce from our buying zone. Once
bounce reaches 61.8% Fib against the (wave 3) high, we will make long position risk free
(put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 998.6
Momentum & Trend Indicators:
Indicator Value Zone
Relative Strength Index 59.19 Neutral
Rate of Change 7.11 Positive
Stochastic %K 72.01 Neutral
MACD 13.23 Positive
Disclaimer: I am not a SEBI registered Research Analyst. The information provided here is
for education purpose only. I will not be responsible for any of your Profit/Loss with this
recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve
substantial risk and may not be suitable for all investors. Leverage can work against you as
well as for you. You should therefore carefully consider your investment experience as
well as financial condition before deciding if trading is suitable for you or not.
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.
Maithan Alloys: Consolidating & forming double bottom on WTFMaithan alloys is setting up nicely on weekly time frame. Seems stock is forming double bottom on weekly time frame. Keep on radar for double bottom breakout above 1050. Can expect retesting of all time high. Fundamentals are also supportive for higher valuations.
Maithan Alloys Maithan Alloys. Fundamentally isse aacha share aap ko nhi mil sakta..that also in capital intensive business of metal industries. CMP:1011.
Maithan Alloy - Tripple BottomTripple Bottom chart pattern completed in hourly timeframe.
Price has retest/pullback the trendline
RSI above 50 indicate the price has good strength to go higher in upcoming days
Details are mentioned on chart. Please go through the chart.
Maithon alloys for swing. Retesting the ascending triangle breakout and also horizontal support.mark levels and follow sl
Maithan Alloys: Forming Rounding BottomMaithan alloys is looking good with nice rounding bottom pattern. Can touch 1130-1140 in short time frame. View negated below 980. Company having solid fundamentals. Keep on radar
Maithan Alloys Ltd.Fundamentals:
Company PE- 3 < Industry PE -15.6, FII increasing its stake quaterly since jun2021(0.32 to 0.67 to 1.02 to 2.54), DII too increasing stake since sep 2021(0.48 to 0.51 to 0.62), almost Debt free with 74.99 promoters holding.
Technicals:
Forming cup & handle pattern , cup is perfectly formed n now it is at channel bottom getting ready to form handle. If we take only handle formation target it is almost double from current level(1750). Currently at a level for perfect entry with good Risk Reward.
Once handle is formed and breaks out 1st target comes around 3500-3600 (approximately, as handle is not formed and taken hypothetical handle breakout target), and 2nd big target is cups depth which comes around 7000level, where it would also touch channel's top. As per previous time analysis time horizon could be 2-3 years.
maithanalloyslooks similar to other metals. on crucial support. below this 900 zone but going there and breaking down would mean the bear grip tightening ! bulls need to hold here.
