MASTEK looks good Positionally

2021年9月3日

Chart Structure:
- Stock is in a continuous uptrend since May.
- Currently, the price is near the All-time High Range (It might close at ATH)
- Price is around 2793.45 at the time of the study.

Volume & Deliveries:
- Huge accumulation has been seen in the second half of July.
- Around 9.48 lac shares were delivered during the period with an average delivery of 1.58 lac shares/day whereas the average deliveries prior was 53,000 shares/day.
- Above-average deliveries are being seen in the first half of August.
- On 1st September around 1.88 lac shares were delivered (around 5x of current average)
- 3 Mutual Funds bought the Significant Quantity of shares in July whereas 5 MFs reduced small quantities of MASTEK in their portfolio.

Relative Strength:
- MASTEK is Relatively stronger than Nifty50 as well as the Midcap index.
- It has outperformed the Nifty50 & its Sector (Nifty-IT) in 1W, 1M, 3M, 6M, 1Y, 2Y & 5Y timeframes.
- Historical chart data shows that Mastek has performed well when it became RS positive and gave significant returns while outperforming the Markets.
- After becoming RS positive in April (with the new ARS date) RS has improved significantly and not flipped flopped.
- While Nifty & Midcap corrected, MASTEK has shown little correction.
- Spread Chart breakout has been observed 3 sessions back.

Financial Performance:
- Q1 sales growth stood at 7% QoQ & 34% YoY
- Q1 PBT growth stood at 9% QoQ & 49% YoY
- Q1 PAT growth stood at 13% QoQ & 73% YoY
- Overall financials have improved.

Sectoral Performance:
- Since its breakout on 15th July, Nifty IT has grown by 17.5%
- The sector is consistently outperforming Nifty50 significantly.
- MASTEK has outperformed Nifty-IT on 1W, 3M, 6M & 1Y timeframes.

TLDR (Too Long Didn't Read):
- Stock is near ATH
- Stock has good volume & deliveries
- Stock's RS is strong, outperforming Nifty & Sector.
- Co.'s financial performance was good in Q1.

A good Stock to Study & keep eyes upon.