Maithan Alloys Ltd is among India’s leading manufacturers and exporters of niche value-added Manganese alloys. The company prime products include Ferro Manganese, Silicon Manganese and Ferro Silicon. It has a global presence with customers like SAIL, Tata Steel and Jindal Steel & Power. Maithan Alloys CMP is 1070.35.
The Negative aspects of the company is...
Here are possible targets for long term. My view is hold for at least a year.
Can reverse from target zones because these are previously resistance zones.
Start buying this Tock for the Long term (2-3 years)
Fundamentally strong stock
High Piotroski Score - Companies with strong financials
Strong Annual EPS Growth
Good quarterly growth in the recent results
Inverted Hammer (Bullish Reversal)
High Revenue and Profit Growth with High Return on Capital Deployed (ROCE) and Low PE ratio
High growth and High Return...
Maithan has given rounding pattern followed by consolidation breakout above 950 - 1100 range and holding well above the range. It will be also considered as flag BO. On weekly, all EMAs are +Vely stacked + MACD crossover in place. Hence, any dip towards 1070 - 1050 will be an excellent opportunity for fresh buy / accumulate with a SL 1010 for initial Tgt 1300.
