MUGHAL Mughal Steel Mid-Term Analysis 26 Dec. 2016

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Rebound Insight

Our Pivot: 75.70

Our Preference: Buy MUGHAL above 84.33 and average it out till 81.44 with strict stop loss of 75.70 and profit target at 96 and 101.25

Alternate Scenario: Downward penetration of 75.70 will call for 73.22 and 66.43.

NOTE: MUGHAL is moving in upward price channel on weekly chart and its completing fourth wave of Elliot Wave while completing its weekly correction. Right now its getting support from its correction level along with a horizontal supportive region. It can bounce back from 50% or 61.8% correction for completing fifth wave of Elliot Wave.

Recommendations:

Buy above 84.33 and average it out till 81.44 with strict stop loss of 75.70 and target at 96 and 101.25

Weekly Chart with Supports and Resistances:

MUGHAL 5
Overview
Quick Snapshot
Free Float

62,899,913

O/S Shares

251,599,650

Market Cap. (m)

0.00

Var Value

15.00

Hair Cut

22.50

Last Price

32.89

Price Adjusted
52 Weeks Range

52w Low

52w High
Intraday
Pivots
Level 1st 2nd 3rd
Supports32.5532.2231.80
Resistances33.3033.7234.05
Adjusted
Price Performance
Time Frame
Price Ch
%Ch
MTD Price Return
-3.56
-3.96
QTD Price Return
-3.56
-3.96
3M Price Return
-21.01
-19.55
6M Price Return
7.44
9.42
9M Price Return
-3.13
-3.49
YTD Price Return
-17.56
-16.88
1Y Price Return
2.53
3.02
3Y Price Return
59.88
225.45
5Y Price Return
35.18
68.63

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