RSI low/high Values: [ 25 - 75 ]
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AI Analysis of MAHASTEEL.NS
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Mahamaya Steel Industries Limited stock upgraded from Strong Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)

Hold candidate since Mar 28, 2024 PDF

The Mahamaya Steel Industries Limited stock price gained 3.23% on the last trading day (Thursday, 28th Mar 2024), rising from ₹97.50 to ₹100.65. During the last trading day the stock fluctuated 3.83% from a day low at ₹98.00 to a day high of ₹101.75. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 14 thousand shares were bought and sold for approximately ₹1.38 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.32% during the next 3 months and, with a 90% probability hold a price between ₹76.64 and ₹133.97 at the end of this 3-month period.

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MAHASTEEL.NS Signals & Forecast

There are mixed signals in the stock today. The Mahamaya Steel Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹110.57. On a fall, the stock will find some support from the short-term average at ₹99.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, February 08, 2024, and so far it has fallen -28.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, May 12, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Friday, May 12, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mahamaya Steel Industries Limited stock

Mahamaya Steel Industries Limited finds support from accumulated volume at ₹97.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹3.75 between high and low, or 3.83%. For the last week the stock has had daily average volatility of 4.69%.

Our recommended stop-loss: ₹95.09 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 33 days ago.)

Trading Expectations (MAHASTEEL.NS) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Mahamaya Steel Industries Limited to open at ₹100.13, and during the day (based on 14 day Average True Range), to move between ₹94.41 and ₹106.89, which gives a possible trading interval of +/-₹6.24 (+/-6.20%) up or down from last closing price. If Mahamaya Steel Industries Limited takes out the full calculated possible swing range there will be an estimated 12.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹97.50 (3.13%) than the resistance at ₹105.65 (4.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mahamaya Steel Industries Limited stock A Buy?

Mahamaya Steel Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

Current score: -0.910 Hold/Accumulate Upgraded

Predicted Opening Price for Mahamaya Steel Industries Limited of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
₹100.13 ( 0.513%) ₹100.65

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MAHASTEEL.NS

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 103.88 3.21 %
R2 102.45 1.79 %
R1 101.57 0.91 %
Current price: 100.65
Support S1 98.70 -1.94 %
S2 97.82 -2.82 %
S3 96.38 -4.24 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 121.15 20.37 %
R2 114.85 14.11 %
R1 105.65 4.97 %
Current price 100.65
Support S1 97.50 -3.13%
S2 88.05 -12.52%
S3 84.30 -16.24%

FAQ

What is the symbol for Mahamaya Steel Industries Limited Stock and on which exchange is it traded?
The symbol for Mahamaya Steel Industries Limited is MAHASTEEL.NS and it is traded on the NSE (National Stock Exchange of India).

Should I buy or sell Mahamaya Steel Industries Limited Stock?
Mahamaya Steel Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

How to buy Mahamaya Steel Industries Limited Stock?
Mahamaya Steel Industries Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Mahamaya Steel Industries Limited Stock.

What's the current price of Mahamaya Steel Industries Limited Stock?
As of the end of day on the 2024-03-28, the price of an Mahamaya Steel Industries Limited (MAHASTEEL.NS) share was ₹100.65.

What is the 52-week high and low for Mahamaya Steel Industries Limited Stock?
The 52-week high for Mahamaya Steel Industries Limited Stock is ₹144.45 and the 52-week low is ₹48.95.

What is the market capitalization of Mahamaya Steel Industries Limited Stock?
As of the 2024-03-28, the market capitalization of Mahamaya Steel Industries Limited is 1.654B.

When is the next earnings date for Mahamaya Steel Industries Limited?
The upcoming earnings date for Mahamaya Steel Industries Limited is May 27, 2024.
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About Mahamaya Steel Industries Limited

Mahamaya Steel Industries Limited Mahamaya Steel Industries Limited manufactures and sells structural steel products in India. The company provides angles, H-beams, joists, channels, billets, blooms, rounds, flats, railway sleepers, strips, girders, etc. It serves construction, automobile, railway, and power industries. The company was formerly known as Rajesh Strips Limited and changed its name to Mahamaya Steel Industries Limited in 2009. Mahamaya Steel Industries Limited was i... MAHASTEEL.NS Profile

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