Short Term TechnoFunda Pick : Mahamaya Steel

Mahamaya Steel (MAHASTEEL.NS) Listed on NSE on NIFTY METAL Index stock has come up with results today and an important notification  From Income Tax which will add to bottom line of 19 cr to company and which will get factored in Next Quarter Result. Market Cap is around 192 cr and adding 19 CR to Profit will boost the Fundamental of the company. Lets analysis it on Technical Basis also.

Pattern Analysis

We are seeing an Ascending Triangle pattern with patern height around 30 points so once we break 162 we are heading towards 189-192 range.

Supply Demand Analysis

As per Supply Demand Chart Till we are holding 150 we are heading higher towards 168/185

Neural Analysis

Neural Also suggests rally to continue till Dec.

Traders can go Long in range of 156-158 for a move towards 168/177 SL 144 on Closing Basis

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