Mazagon Dock Shipbuilders Ltd. - Breakout Opportunity

12월 4일

Date: 5-Dec-2024
LTP: Rs. 4,880.70
Targets: (T1) Rs. 5,545 --> (T2) Rs. 5,860 --> (T3) Rs. 7,100
SL: Rs. 4,245

Technical View:
• MAZDOCK is in primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 5,860 on 5-Jul-2024, it has retraced 34% to 3,851.20 level.
• MAZDOCK has breakout from it's secondary downtrend with higher than average volume on 4-Dec-2024. This breakout is also supported by increased volume in last few sessions.
• MAZDOCK have formed double bottom pattern between 3,851.20 and 4,925 levels. Breaking 4,925 level will also give breakout from double bottom pattern.
• Company has fixed 27-Dec-2024 as record date for 2/1 stock split. Target levels can be revised post stock split.
• MAZDOCK is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 2-Dec-2024.
• RSI is in buy zone and trading at 71.93. MACD is bullish and trading at 135.74.
• Both RSI and MACD are showing positive divergence.
• Looking good to start a new swing from here.

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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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.