rdkriplani

Maithan Alloys - Box breakout

Long
NSE:MAITHANALL   MAITHAN ALLOYS LTD
The stock broke out of a long consolidation box a couple weeks back. The past 2 weeks its been retesting that box which has been acting as support.
There is one resistance on top as well..

Long above 734 and then 772.
SL 700 after the first buy..and 735 once the 2nd buy is done.
Target could be closer to 900.

Fundamentally strong company which is sitting on almost 600cr of cash on its book. Trades at an extremely cheap PE.

Watch out for this stock next week..my alert has been set and i will be buying it into results season.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.