MUKUND LIMITED - TECHNICAL VIEW - WEEKLY TIME FRAMEMukund Limited - technical view
MUKANDLTD, here we are in wave 4 complex correction & could end @ 91 levels. Lets see hoe wave 5 unfolds in MUKUNDLTD.
MUKANDLTD trade ideas
Mukand LimitedMukand Limited, Mukand consolidated net profit declines 21.36% in the June 2024 quarter
Net profit of Mukand declined 21.36% to Rs 24.33 crore in the quarter ended June 2024 as against Rs 30.94 crore during the previous quarter ended June 2023. Sales declined 8.99% to Rs 1257.99 crore in the quarter ended June 2024.
Long Opportunity in Mukand Ltd: Bullish Outlook for Potential UpMukand Ltd presents a compelling long opportunity as per my technical analysis. The stock has displayed strong bullish momentum, supported by robust fundamentals and positive market sentiment.
Technical indicators suggest that Mukand Ltd is poised for an upward trajectory, with the price currently trading above key moving averages and showing signs of continued bullish momentum. Additionally, the stock has reached a key price level and from here we may see an upward momentum.
With a clear bullish bias, I anticipate Mukand Ltd to continue its upward momentum in the coming trading sessions. However, as with any trade, it's essential to manage risk effectively and monitor price action closely for any signs of reversal.
Target - 210 and above, SL - 150
Disclaimer: This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your research and consult with a certified financial advisor before making any investment decisions.
MUKANDLTDNSE:MUKANDLTD
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
MUKANDLTD Looks bullish stock gave a good breakout of its all time high with good volumes and giving a healthy consolidation after the breakout.
before breakout also there was a long healthy consolidation for about 4 years.
currently on a weekly time frame there is good bullish candle which makes a strong closing on the upside.
if price sustains these levels new high can be seen in the stock soon.
keep this stock on your radar
MUKANDLTD strong breakoutprice broke multiyear resistance area
formed decent base above resistance and now broke that base
mcap 2373cr
stock pe 13.4 < industry pe 14.1
cmp 164 > book value 59.1
dividend yield 1.21%
debt to eq 1.74
promoter holding 74.7% vs 71.68% in MARCH 2017
recently company reduced debt significantly
balance sheet is getting improving
took very small position and will add/reduce accordingly
target not defined
Round Bottom Breakout - MUKANDPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Triangle Pattern BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
