Rs 3 Dividend Record Date On Apr-16 After 1:2 Split: BUY Defence PSU Mazagon Dock Stock For Rs 3,470 Target

Prabhudas Lilladher: The stock after maintaining the strong support zone near 1920 levels, has witnessed a decent pullback to move past the important moving averages of 200 period and 50EMA to strengthen the trend. Currently, indicating a flag pattern on the daily chart with bias improving and volume participation on the rise, a decisive move past the 2730 zone shall trigger for a fresh upward move in the coming days. The RSI has gained strongly from the oversold zone and indicating strength, has further upside potential to carry on with the positive move in the coming sessions. With the chart technically well positioned, we suggest to buy the stock for an upside target of 3470 keeping the stop loss of 2420.