Mazagon Dock Shipbuilders Limited (MAZDOCK) Stock - Complete Technical Analysis - Nov 19, 2024

Mazagon Dock Stock Analysis: Key Support, Resistance, and Indicators to Watch for Traders

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. In this technical analysis of Mazagon Dock Shipbuilders (MAZDOCK), we see that the stock is trading at 4075, which is significantly below its 52-week high of 5860. Its also up about 127% from its 52-week low of 1795, indicating strong long-term growth. The stock is currently facing resistance around the 4200-4300 range, and if it breaks these levels, it could move towards 4500-4600.

Looking at the moving averages, the stock is trading below the short-term EMAs, suggesting a neutral to bearish trend in the near term. The MACD and momentum indicators are negative, showing a downward pressure on the stock. The RSI at 47 confirms that the stock is neither overbought nor oversold, so it could be in a consolidation phase.

Key support levels are around 4050-4075, with a stronger support zone at 3900-4000. The ADX is at 12.7, reflecting a weak trend, and the ATR indicates moderate volatility. If the stock holds above 4050, theres potential for a reversal towards the upside. However, traders should keep an eye on the resistance at 4200-4300 and watch for any significant breaks of these levels for potential gains.