Shares of Mazagon Dock are trading 26% reduced to their document high gotten to in July this year. The supply, which struck a document high of Rs 5859.95 on July 5, 2024 was trading at Rs 4,338 today, down 26% throughout the duration. The supply has actually been extremely unpredictable throughout the last one year, with a beta of 1.4. In the present session, the multibagger supply was trading 1.14% reduced at Rs 4335 agains the previous close of Rs 4382.90. Market cap of the company slid to Rs 87,472 crore. Mazagon Dock shares have actually acquired 101% in a year and increased 594% in 2 years. The supply has actually zoomed 1521% in 3 years.
Total 0.35 lakh shares of the company transformed hands totaling up to a turn over of Rs 15.49 crore.
In regards to technicals, the loved one stamina index (RSI) of Mazagon Dock stands at 54.4, indicating it’s trading neither in the overbought neither in the oversold area. Mazagon Dock shares are trading greater than the 5 day, 10 day, 20 day, one month, 100 day, 150 day, 200 day however less than the 50 day relocating standard.
Shiju Koothupalakkal – Technical Research Analyst, PL Capital-Prabhudas Lilladher stated, “The stock has witnessed a decent erosion from the peak zone of Rs 5860 and recently, after making a low of Rs 3852, has indicated a decent pullback with currently having a positive candle formation with significant volume participation to move past the confluence of 50EMA and 200 period MA at 4315 zone, improving the bias and anticipating for further rise in the coming days. The RSI has indicated a positive trend reversal from the highly oversold zone to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking very attractive, one can buy the stock for an upside target of Rs 5100, keeping the stop loss of Rs 4000.”
Osho Krishan, Senior Analyst – Technical & & Derivatives, Angel One stated, “Mazagon Dock has undergone profit booking, followed by a time-wise corrective phase after the vertical rally. Currently, the stock has seen some support near its 100 DEMA on the daily time frame chart and showcased a sign of respite from its corrective phase. On the level-specific front, Rs 4200, followed by Rs 4000, is likely to provide cushion to any upcoming blips in the near future. While on the higher end, Rs 4800- Rs 4900 (Bearish Gap) is the crucial hurdle, and momentum is likely to return once it breaches the same authoritatively.”
Ameya Ranadive, CMT CFTe and Senior Technical Analyst at StoxBox has actually designated a rate target of Rs 4,750- Rs 4,900 for mid-term capitalists. Stop loss can be dealt with at Rs 3,800.
“Mazagon Dock is experiencing a phase of profit-booking as the stock consolidates in both time and price. Despite the pullback, the stock has recently regained strength, moving above its 20- and 50-day EMAs, a positive signal for a potential upward move. With its current technical setup, it presents an appealing buy opportunity at these levels. However, the real momentum could kick in once the stock breaks above Rs 4,700, which may unlock significant upside potential. A mean-reversion trade strategy could be viable here, with long positions being considered as long as the price remains above the 100-day EMA, where a stop-loss could be placed for risk management. However, caution is advised if the stock breaches the Rs 3,800 level, as that would indicate a shift in sentiment,” stated Ranadive.
Sebi- signed up study expert AR Ramachandran stated, “Mazagon Dock stock price is bullish on the Daily charts with strong support at Rs 4150. A daily close above the resistance of Rs 4544 could lead to a target of Rs 5,000 in the near term.”
Mazagon Dock Shipbuilders Ltd (MDSL) is a leading support public market task shipyard under the Ministry of Defence (MoD). Mazagon Dock is largely participated in building and fixing battleships and submarines for MoD and various other sorts of vessels i.e. freight ships, multi-purpose assistance vessels, barges and boundary stations, pulls, dredgers, water vessels, and so on for industrial customers.
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