Stock has formed the inverted HnS pattern, need to close above 442 to confirm the BO, the volume should be good. This may take the stock to its ATH swiftly.
Mishra Dhatu Nigam Ltd (MIDHANI) manufactures superalloys, titanium, special purpose steel and other special metals.
It was incorporated in 1973 at Hyderabad as a Government of India Enterprise under the Ministry of Defence.
GoI still owns ~74% stake in the company after its IPO in 2018
The company was set up by the Govt. with a view to achieve self-reliance in...
MIDHANI
Closing aboe 238-240, may give good up move.
was in this range for almost 2.5 years.
Good for cash/investment.
Targets 260-280-300,350,400,450,500+
-Saptarish Trading.
Not a SEBI registered analyst, do consult your financial advisor.
MISHRA DHATU NIGAM trading between weekly resistance zone with gud volume after taking support from support trend line similar kind of pattern was seen in RVNL few days ago can look for swing trade with your prefered RR.
As we can see MIDHANI has broke the marked resistance and currently it is retesting it and alongside making a falling wedge hence adding confluence that it can continue to the upside.
Target - 500
These are swing idea's which you can add your watchlist and analysis for yourself.
Keep on radar.
This content for only education purpose!
I am not SEBI Register.
Stock broke out of it long range consolidation of almost 3 years. It looks strong on a monthly timeframe too with volume support. Stock is seen sustaining above the 306 levels. Though a retest is pending of the earlier resistance (248-278) which shall act as a support now.
As per the trend based fib further levels that can be tested are 400-465. (Uncharted...
Midhani might be ready to form a new channel to move further up, this may be seen as flag break out, currently retesting the old channel. Let it close above 308
Midhani looks promsing on chart and easily achievable target above 360 to 400 range in very short time. Fundamentals and strong defense raw material need will take this to new levelsfor medium and long term,
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
Please consider these ideas for educational purpose
Comment below if you are looking for any answers
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
