BUY MTAR TECHNOLOGIESDelivery:
Buy above 1750
Sell at 1900 2000 2300
Exit below 1500 on daily closing basis
Book profits accordingly.
Mtar
MTAR Technologies Trend AnalysisMTAR Technologies was established in 1970, it is in the business of manufacturing various machine equipment, assemblies, sub-assemblies, and spare parts for energy, nuclear, space, aerospace, defence and other engineering industries.
As of 31st March 21, The company has an order Book of Rs. 416 Crores. The order book is divided into:
Space & Defence: 36%
Clean Energy: 35%
Nuclear: 29%
Clients are:
Large MNCs: Bloom Energy, Elbit, Rafael, etc.
Government Departments: ISRO, Defence Research and Development Organization, Indira Gandhi Centre for Atomic Research, etc.
Indian Companies: HAL, BHEL, Bharat Dynamics, etc.
Co. has Added 3 new MNC Customers during FY21: Andritz, Kongsberg & Tata Advanced Systems.
Top 3 clients contribute to roughly 80% of the Revenue (Bloom energy - 49%, Nuclear Power Corporation of India Limited - 23%, ISRO - 7%)
Balance sheet shows steady growth since 2017.
Technically highly bearish with head and shoulder pattern formation as highlighted.
Good to accumulate around 1050 to 1150 levels with SL @ 1000 for the following targets:
Medium term swing target @ 1975 (80% ROI with 8.75 R:R)
Long term swing target @ 2550 (132% ROI with 14.5 R:R)
Long term positional target @ 3400 (209% with 23 R:R)
Do your own due diligence before taking any action.
Peace!!
MTARTECH - Swing trade🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
MTAR - Defense Theme Stock. Seems to have formed a bottom.Fresh Entry X/2 can be taken at CMP as it seems to have formed a bottom near 1643 levels. X/2 entry can be taken above 2018 closing. Target 2200, 2500 in the long term. Stop loss closing below 1500. FOR EDUCATION PURPOSE ONLY.
