Mumbai: Despite the fall in the stock market, many stocks are seeing good growth. Shares of state-owned Mazagon Dock Shipbuilders jumped eight per cent in early trade on Friday. Along with the rise in prices, its volumes also increased significantly. It has been in consolidation mode for the last eight trading sessions and has registered a strong price volume breakout on the daily technical chart. With this, it has reached an all-time high of Rs 457.40. The stock has jumped 85 per cent in the last three months and is looking very bullish right now.
Technical parameters are also indicating a rise in this stock. Its 14-day RSI (76.49) is in the Super Bullish Zone and it is showing bullish momentum. Its ADX (55.60) continues to climb up and the index is showing strong trend strength. Its OBV is at its peak and there is evidence that participants are showing interest in it. Overall, this stock is looking technically bullish and it is expected to move higher in the coming days. This is the perfect momentum for stock trading. In such a situation, swing traders can put this stock in their watchlist. Mazagon Dock Shipbuilders manufactures and repairs ships. It manufactures ships for the Indian Navy as well as other commercial operators. This article is powered by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here for regular updates on Winning Stocks and Recommendations.
(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.)
