Mazagon Dock Shipbuilders (Target 280+)

Mazdock has given a descending trendline breakout with a good amount of volumes on 03.09.2021 on Hourly charts. Along with the trendline, the stock has also started to trade above its 200 DMA on the hourly chart. Since the daily candle had a long wick post completion of the day, some more confirmation will be required on Monday (06.09.2021)

If the stock sustains above the level of 250, targets for swing trade will be T1=275, T2=290+

Order avbruten:

The stock has not given the kind of volume expansion as confirmation that was required to build any long position and has consolidated sideways to date. Therefore no trading opportunity seems to be available as of date. Will be updating the idea if any opportunity comes about in the future.