Manaksia Coated Metals & Industries Limited
Manaksia Coated Metals & Industries Limited has risen to an all-time high and appears to be an excellent long-term investment.
Manaksia Coated Metals & Industries Limited has proven to be an excellent long-term investment, in my opinion. Please read over and comprehend the weekly chart format of Manaksia Coated Metals & Industries Limited. Stock appears to be a wise choice in the 70-75 zone, according to the chart. It has worked really well thus far and has a ton of opportunity for development.
Please refer to the Manaksia Coated Metals & Industries Limited weekly chart. The stock is moving higher and trading above horizontal resistance now that it has left the 70-75 region. The research indicates that at 70-75, Manaksia Coated Metals & Industries Limited is now in high demand. The chart below illustrates when this anticipated upside is expected to happen, which is between 95 and 100.
- Manaksia Coated Metals & Industries Limited is a great option for long-term investments as the stock is continuously growing and has made a decent breakthrough at 70–75.
- According to the chart, Manaksia Coated Metals & Industries Limited appears to be in a strong position with room to grow and might hit the 95 and 100 mark.
- The current price range of 70 to 75 represents the greatest time to buy this company because the risk-reward ratio is optimal for cash transactions.
- The stock, with a target price range of 95–100, appears to have broken out of a rectangular pattern on the chart.
Please refer to the weekly chart that Manaksia Coated Metals & Industries Limited has provided as a point of reference. The weekly chart shows horizontal resistance, a breakout, and demand in the 70–75 price area. Strong demand causes the stock in that industry to soar.
The fact that the stock hit a new all-time high suggests that now is a fantastic opportunity to buy at the price. Kindly observe the horizontal resistance and the point of break. As of right now, the stock has risen further on the chart, reaching its goals within the range of 95–100.
The progression of the rectangular design is Manaksia Coated Metals & Industries Limited, whose present targets fall between 95 and 100. Technical analysts love the rectangle pattern because its horizontal lines indicate strong support and resistance. Buying at support and selling at resistance are the two trading strategies that yield profits. Using the measurement approach and delaying its application till the formation breaks free would be an additional choice.
Investors can look for a long-term purchasing opportunity in the 70–75 range and take advantage of any falls that happen because of the stock's high demand. A solid risk-reward ratio might result from a comeback to the 95 and 100 levels. Consider investing at every downturn as there is a tremendous upside potential for this stock. During each recession, buy stock in this company.
Investors aiming for a stop loss of 62 and a price range of 95–100 can purchase the stock gradually with cash.
To enable the stock or instrument to reach high volume and upside with a swift increase and target hit, as a trader or investor, I frequently search for a Volatility Contraction Pattern (VCP), which is a scenario in which there is a decrease in price volatility prior to a sizable gain. Please download the Fx Careers app from the Google Play store to get more information on VCP patterns. We also introduce the highly-precision pattern recognition approach.
Manaksia Coated Metals & Industries Limited's monthly chart shows both resistance and support. The spot chart displays the levels.
|
Manaksia Metals |
Support |
Resistance |
|
Level 1 |
70 |
95 |
|
Level 2 |
62 |
100 |
Company Profile: One of the leading producers and exporters of FMCG and coated metal goods is Manaksia Coated Metals & Industries Limited (MCMIL). It belongs to the Kolkata-based multinational Manaksia Group. The Manaksia Group has production facilities in India and specializes in a range of sectors, including consumer items like mosquito repellent coils and ultramarine blue powder, as well as flat metal products made of steel and aluminum. The Manaksia Group distributes its goods throughout Europe, Africa, and India.
In Kutch, Gujarat, Manaksia Coated Metals & Industries Ltd. has been running a steel plant with a 120,000 TPA production capacity. The production facility includes a brand-new, cutting-edge galvanizing line as well as a color coating line. A second appliance-grade color coating line with an emphasis on capacity increase and the establishment of a new cold rolling complex for backward integration are also ongoing expansions. The plant's production capacity will have grown to 180,000 TPA once completed.
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