Mazagon Dock Shipbuilders Limited Stock Forecast

Mazagon Dock Shipbuilders Limited stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)

MAZDOCK.NS Signals & Forecast

The Mazagon Dock Shipbuilders Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹3,977.31. On a fall, the stock will find some support from the long-term average at approximately ₹3,408.58. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -4.89%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Mazagon Dock Shipbuilders Limited stock

Mazagon Dock Shipbuilders Limited finds support from accumulated volume at ₹3,877.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹159.75 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 5.10%.

Our recommended stop-loss: ₹3,818.01 (-3.93%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (MAZDOCK.NS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Mazagon Dock Shipbuilders Limited to open at ₹4,011.27, and during the day (based on 14 day Average True Range), to move between ₹3,704.51 and ₹4,243.59, which gives a possible trading interval of +/-₹269.54 (+/-6.78%) up or down from last closing price. If Mazagon Dock Shipbuilders Limited takes out the full calculated possible swing range there will be an estimated 13.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹3,982.40 (0.21%) than the support at ₹3,877.55 (2.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Mazagon Dock Shipbuilders Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mazagon Dock Shipbuilders Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.120 Buy Candidate Upgraded

Predicted Opening Price for Mazagon Dock Shipbuilders Limited of Wednesday, June 26, 2024

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