Today’s trending stock, this is the top trending stock in shipbuilding – top trending stock mazagon dock shipbuilders

Mumbai – Indian markets witnessed a gap-down opening amid negative global cues. Market sentiment turned negative as the US Federal Reserve maintained its stance for aggressive rate hikes amid rising inflation. However, quality midcap and smallcap stocks saw strong buying interest from investors.

One such stock is Mazgaon Dock Shipbuilders. It registered a nearly 5% jump in the opening hours of Thursday’s trading session.

Mazgaon Dock Shipbuilders’ growth of over 175% has recently become the talk of the town. A strong business outlook for the sector is due to growing base numbers and demand. The company has recently received a large production supply order from the Indian Navy. The strong demand for the stock is reflected in its share price. It has hit a new all-time high of Rs 768 with a massive rally in the national stock market.

This article is published by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here and subscribe to receive regular shares and recommendations from Teji.

Technically, the stock has experienced a major buy interest-price volume breakout from its consolidation pattern this week. The moving average of the stock is in an upward phase and it paints a picture of positivity. The 14-day RSI is extremely bullish. While MACD has given new bullish signals. OBV is at its peak and rising and the stock is showing massive buying activity. Overall, the stock is expected to rise further with bullish tailwinds supporting the stock’s value.

Long-term investors should add it to their watchlist to track this stock.
Disclaimer : This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.