Stock of Interest

Posted On: August 23, 2023

Stock Report: MANAKSTEEL (NSE) 22 Aug 2023 

Manaksia Steels Ltd is a manufacturer of value-added secondary steel products and is poised to cater to the increasing demands overseas and in India for the housing and infrastructure sectors. The company manufactures and sells steel products comprising Cold Rolled Steel Sheets and Coils, Galvanized Steel Sheets and Coil, Color Coated Steel sheets and coils, and others. Geographically, it derives a majority of revenue from India. 

#xCalData predicts that # MANAKSTEEL will continue its bullish phase over the next five days and trend within the range of 44 to 48. 

In comparison to the previous month, the price of the stock has experienced an increase of 0.76% indicating a bullish. 

The Stock has doubled thrice since 29 Jun 2015 and took an average of 2.3 years to double.     

The stock has shown seasonality trend in the past. Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 1 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. Only some of the technical indicators namely Stochastic Oscillator indicate Bearish view. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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