Mazagon Dock Shipbuilders Limited Stock Forecast

Evaluation of Mazagon Dock Shipbuilders Limited stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

MAZDOCK.NS Signals & Forecast

The Mazagon Dock Shipbuilders Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹4,084.96 and ₹3,510.70. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, June 27, 2024, and so far it has fallen -3.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

Mazagon Dock Shipbuilders Limited finds support from accumulated volume at ₹4,178.25 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 ₹279.00 between high and low, or 6.56%. For the last week, the stock has had daily average volatility of 6.77%.

Our recommended stop-loss: ₹4,126.32 (-3.62%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)

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

For the upcoming trading day on Monday, 1st we expect Mazagon Dock Shipbuilders Limited to open at ₹4,353.48, and during the day (based on 14 day Average True Range), to move between ₹3,990.34 and ₹4,572.56, which gives a possible trading interval of +/-₹291.11 (+/-6.80%) 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 13.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹4,178.25 (2.41%) than the resistance at ₹4,416.35 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mazagon Dock Shipbuilders Limited stock A Buy?

Mazagon Dock Shipbuilders 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.645 Hold/Accumulate Downgraded

Predicted Opening Price for Mazagon Dock Shipbuilders Limited of Monday, July 1, 2024

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