Technical Positional Pick - Buy Maithan Alloys Ltd For Target Rs. 1300 - HDFC Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/07/88e13fc3c7d13c1f5b6cad140f87c211.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
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
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/unionB23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nirmalaS22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _11.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/StockMarket23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
Nifty registers best week in 2 months after rising for 6 consecutive sessions
![Midcap index rose more than the Nifty while Smallcap index rose less even as the advance decline ratio was up at 1.49:1 - HDFC Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/75edce1399be6eb60b35089fc7edd6e2.jpg)
![USDINR Sept fut. facing resistance at 82.90, the horizontal line showing multiple tops - HDFC Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/8d7e61aba9d23e598971d1fc095f2985.jpg)