Mahamaya Steel give Weekly Breakout

Mahamaya Steel (MAHASTEEL.NS) Listed on NSE on NIFTY METAL Index stock has seen Multiyear breakout above 196 and rallied all the way till 210. Momentum is favoring the stock as Trader we believe on age old adage Ride the move till the Trend Bends  We covered Stock 5 days before at 196 and it did our 1 target of 210 Last Friday

Pattern Analysis

As per Price chart Price Stock has closed on Weekly basis above 196 and is heading higher towards 224/233/241 in short term.

Supply Demand Analysis

As per Supply Demand Chart we are have closed above 202 so heading towards 225.

Time Cycle Analysis

As per Time Cycle as shown in above chart till we are holding 196 odd level stock can continue to rally till 14 June.

Traders can go Long in range of 213 for a move towards 220/225/233/241 in next 30 days month SL 196 on Closing Basis

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