Mahamaya Steel (MAHASTEEL.NS) Listed on NSE on NIFTY METAL Index has seen spectacular rally. Metals Stocks are flavor of the season as commodity cycle is turning. In Our Last Analysis Stock Did our 1 target of 196 and back to demand zone of 173-175 Holding the support zone and also near an Important time cycle suggesting we can see momentum coming back in next 1-2 days.
Results have been very nice with Profits up almost 800% so stock has given a good breakout and ready for another rally of 15-20% easily.
Supply Demand Analysis
As per Supply Demand Chart we had trend line breakout today so above 175 we can rally towards 198/213.
Time Cycle Analysis
As per Time Cycle as shown in above chart Stock has formed a bottom near the planetary line and has a new smaller time frame time cycle starting which generally gives a Momentum move so expect rally to start soon in the stock.
Traders can go Long in range of 176-179 for a move towards 196/212 in next 1 month SL 161