Mazagon Dock Shipbuilders – Technical Analysis

The stock

is showing a strong bearish trend on the daily chart. The stock has declined from around ₹2800 to ₹1860 forming lower highs and lower lows. The latest session closed at ₹1860 down 3.24%, indicating continued selling pressure. The price is below its major moving averages, while the RSI near 25 signals oversold conditions. However, an oversold reading alone does not confirm a reversal. Support & Resistance: Immediate support is around ₹1830–1850 followed by ₹1780–1800. On the upside ₹1900–1920 is the first resistance zone followed by ₹1980–2030. Short-Term Buyers & Holders View: Short-term buyers can wait for price stabilisation and a sustained move above ₹1920 with strong volume before expecting recovery. A breakdown below ₹1830 may extend the decline toward ₹1800. Holders can monitor whether the stock forms a base and regains upward momentum.