|Buy Range||124 – 127|
|Target||140 – 143|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||10 – 13%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|127.05||BUY||124 – 127||140 – 143||120||20 – 25 Trading Sessions||10 – 13%|
# CMP on June 25, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 134.
^ The returns are calculated based on CMP#
Mishra Dhatu Nigam Ltd is engaged in development, manufacture and supply of critical alloys of superalloys, titanium, special purpose steel, and other special metals. These are high value products which cater to niche end user segments such as defence, space and power. The company has achieved the status of Mini Ratna, Category-I company in 2009.
|Sectoral Index||NIFTY METAL|
TECHNICAL OBSERVATIONS (DAILY)
- In the Daily chart, the medium-term trend is positive since October 2018. There is a steady support baseline which is moving upwards along with price rise.
- The recent lows around 123 also correspond to previous intermediate lows which were tested previously, thereby making it strong support.
- Follow the last 4 days candlestick pattern as zooming in through the magnifying glass in the chart. There are a doji and bullish engulfing candlestick formation in the chart. Normally this type of candlestick suggests a probable bullish reversal.