MTAR TECH LTD
Open—1560---High---1668---Low---1548.90—Close—1636.40 on
16.5.2025.
Support: 1572/1510/1483/1443.
Resistance:1658.25/1675/1729/1783/1825/1842/1860/1872/1955/1987/2076/2200/2250/2319/2352/2478.--------.
(Bold and underlined figures are most important)
Technically it is not that strong now but it seems that it is shaping up well for a good up-move in coming times. Please note that it is moving in a very important range of 1572---1659 now, moving down if it holds the level of 1572 on the closing basis, then the chances of up move will be alive, else it may start to drift down. Similarly if it moves above 1659 and sustain on the closing basis then it will gain good strength and may surge ahead and then the broad upside target could be 1830----2038---2246---2504---2567 (for in between target points see the resistance table on the upside), it can correct at any of these points and may resume the up move again, but if it moves above 2567 and sustain on the closing basis then it could retest its all-time high of 2920.35 or may go-beyond it.
REMARKS:- It is on a weak technical footing now but shaping up well for a good up- move in coming days, therefore it is suggested to buy on decline till it holds 1572 on the closing basis and can add position if it moves above 1659 and sustain on the closing basis. It is needless to mention here that one must use stop loss in your trade.
NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view. It is for the educational purpose.
Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.