Mahamaya Steel – Retest of Highs After Strong Upmove (Daily)

Mahamaya Steel has witnessed a strong rally followed by a healthy correction, and is now again moving higher towards the ₹950–1,000 resistance zone. The stock is showing signs of trend continuation after consolidation. Technical Structure The stock is in a strong uptrend → correction → rebound phase. Key observations: • Sharp rally followed by time-wise and price-wise correction • Formation of higher low near ₹700–750 zone • Price reclaiming short-term EMA (~₹925) • Gradual move towards previous swing highs (~₹1,000) • Stochastic RSI turning up from lower zone, indicating fresh momentum Key Levels to Watch Immediate resistance: ₹980–1,000 • Breakout above ₹1,000 → Target 1: ₹1,100–1,150 Target 2: ₹1,250–1,300 Support levels: • Immediate: ₹900–920 • Strong support: ₹800–820 Breakdown below ₹800 may weaken the trend. Fundamental Perspective Mahamaya Steel operates in the steel and structural products segment, supplying to infrastructure and construction sectors. Key triggers: • Demand from infra, construction & capital goods sectors • Beneficiary of government capex cycle • Steel sector cyclicality → margin expansion in upcycles • Potential operating leverage during demand uptrend ➡️ Mahamaya Steel is approaching a key resistance zone near ₹1,000. A decisive breakout could trigger the next leg of uptrend, while rejection may lead to consolidation.