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Mishra Dhatu Nigam stock has been uptrend since April this year. This upmove has gained momentum over the last few days. The 7.6 per cent surge on Monday, the stock well above the key multi-year range resistance level of ₹267 will act as a good support and limit the downside going forward. Mishra Dhatu Nigam share price has potential to target ₹330-335 over the next three-four weeks or even earlier than that if the current momentum continues. Traders can go long at current levels.
Accumulate on dips at ₹270. Keep the stop-loss at ₹262. Trail the stop-loss up to ₹288 when the price moves up to ₹295. Move the stop-loss further up ₹298 when the price touches ₹310. Exit the longs at ₹320.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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