Mazagon Dock shares approach record high, here are fresh price targets 

Shares of Mazagon Dock Shipbuilders approached their record high on Tuesday even as the stock market saw profitbooking after a stellar rally in the previous session. Mazagon Dock shares rose 4.38% or Rs 127.35 to Rs 3032.30 in the current session amid a correction in Sensex and Nifty. While Sensex lost 1224 points to 81,205, Nifty plunged 319  pts to 24,504 in the afternoon session today. 

The defence stock looked set to end in the green today, short of the record high of Rs 3,170 reached on May 2, 2025. 

Amol Athawale, VP-technical Research, Kotak Securities said if the stock falls below Rs 2800,traders are likely to sell the stock. 

"On daily charts, the stock is forming higher highs and higher lows, which is largely positive. Technically, the stock is comfortably trading above the 20-day Simple Moving Average (SMA), which supports a further uptrend from the current levels. For positional traders, the 20-day SMA or 2800 would act as a key support zone. Above this level, the stock could move up to 3150-3200. However, below 2800, traders may prefer to exit their long positions," said Athawale.

Ravi Singh, Senior Vice President of Retail Research at Religare Broking said, "The stock prices are continuously traded with a bullish outlook, reaching a high of Rs 3230 on May 14. In the near term, the price is expected to take a corrective fall, driven by profit booking at higher levels. Considering all technical factors, fresh long positions can be initiated in the 2850–2900 range with an upside potential of 3350 and 3500, with a strict stop-loss placed below the support zone of 2600"

A R Ramachandran, SEBI registered Independent analyst says, "Mazagon Dock stock price is slightly bearish on the Daily charts with strong resistance at 3150. A Daily close below support of 2776 could  lead to a target of 2463 in the near term."

Jigar S Patel, Technical Research Analyst at Anand Rathi Shares and Stock Brokers has an avoid call on the stock. 

"Mazagon Dock is exhibiting signs of stalling at higher levels at the current juncture, accompanied by bearish divergence—a potential red flag. We recommend booking profits in the Rs 3,000–3,100 zone and adopting a wait-and-watch approach. Fresh long positions are not advised at this stage," said Patel. 

Antique Stock Broking said it has maintained 'Buy' ratings and assigned a target price of Rs 3433 on the defence stock.

Mazagon Dock Shipbuilders Ltd (MDSL) is a leading defence public sector undertaking shipyard under the Ministry of Defence (MoD). Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients.