IGI Logo

Technical Positional Pick - Buy Maithan Alloys Ltd For Target Rs. 1300  - HDFC Securities 

TECHNICAL OBSERVATIONS

* Stock price has broken out on the weekly and monthly chart with higher volumes.

* Short term trend of the stock is positive where it is trading above its 5 and 20 and 50 day EMA.

* Oscillators like RSI and MFI is showing strength in the stock.

* Plus DI is trading above Minus DI, while ADX is trading above 25, Indicating momentum in the current uptrend.

* Stock Price is forming bullish higher top higher bottom formation on the weekly and monthly chart

* Considering the Technical evidences discussed above, we recommend buying Maithan alloys at 1063 and average at 980, for the upside targets of 1199 and 1300, keeping a stop-loss at 960.

Buy Maithan Alloys Ltd Up to 3 Months @ Average level 980 CMP 1063 TGT 1300 SL 960

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Above views are of the author and not of the website kindly read disclaimer