MASTEK BO [Weekly]
MASTEK is giving a 40W BO with good accumulation seen on the charts on daily timeframe. In this current market this stock is showing accumulation. Might be a sign of a leader when market resumes the run.
RS Score has improved from 38 on 25th Oct to 70 this week. So in a pressured market, when a stock RS score improves, its good to track it. On top of that we can spot accumulation in that as well.
Fundamentally the numbers seem on an upward slope, so the accumulation makes sense when paired with fundamentals. FIIs stake has reduced though, that's a worrying thing for me tbh.
On the longer duration front, a huge base weekly BO is upcoming on the chart, so once that overhead supply gets cancelled out, this can rally hard. Waiting to see if distribution occurs at that level or not, if it does, will probably remove it from watchlist.
RS Score has improved from 38 on 25th Oct to 70 this week. So in a pressured market, when a stock RS score improves, its good to track it. On top of that we can spot accumulation in that as well.
Fundamentally the numbers seem on an upward slope, so the accumulation makes sense when paired with fundamentals. FIIs stake has reduced though, that's a worrying thing for me tbh.
On the longer duration front, a huge base weekly BO is upcoming on the chart, so once that overhead supply gets cancelled out, this can rally hard. Waiting to see if distribution occurs at that level or not, if it does, will probably remove it from watchlist.
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