• Stock declines 5.00% to ₹71.85 after recent surge
  • Net profit at ₹960.74 lakh; income at ₹32,056.16 lakh
  • RSI slips to 59.35, indicating easing momentum

Overview

Manaksia Steels Limited (NSE: MANAKSTEEL) is trading near ₹71.85, down 5.00%, as the stock corrects following a sharp upward move in recent sessions. The decline appears driven by profit booking after the stock tested higher levels and faced resistance.

The price action reflects a pause after the rally, with the stock now entering a consolidation phase.

Fundamental View

For the quarter ended December 2025, the company reported total income of ₹32,056.16 lakh. Profit before tax stood at ₹1,264.31 lakh, while net profit came in at ₹960.74 lakh. Earnings per share was ₹1.47.

The performance remains steady, supported by stable demand in the steel segment. However, the recent sharp price rise seems more momentum-led, with no major fresh fundamental trigger.

Future growth will depend on margin trends and demand conditions.

Technical View

Technically, Manaksia Steels Limited is trading near ₹71.85 and remains above its 21-day SMA around ₹60.95, indicating that the short-term structure remains intact despite the correction.

The stock saw a strong vertical rally followed by a bearish candle, suggesting rejection near the ₹76–₹78 zone. This indicates supply pressure at higher levels.

Momentum is cooling. The 14-day RSI is near 59.35, easing from higher levels and reflecting moderation in upward momentum.

The setup suggests consolidation in the near term unless the stock regains strength above recent highs.

Key Technical Levels

Immediate support is placed at ₹66.00–₹62.00, which may act as a cushion if weakness continues.

On the upside, resistance is seen at ₹78.00–₹83.00, where selling pressure may persist.

Source: TradingView

Risks To Watch

• Profit booking after sharp rally
  • Absence of fresh triggers
  • Commodity price volatility
  • Short-term price swings

Summary

Manaksia Steels Limited has fallen 5% after a sharp rally, with profit booking emerging near higher levels. While the stock remains above key averages, the recent rejection suggests a pause in momentum.

Holding above ₹66.00 will be important for stability, while a move above ₹78.00–₹83.00 is required for further upside.

FAQs

Why did Manaksia Steels fall today?
The stock declined due to profit booking after a strong recent rally.

Is the trend still positive?
The stock remains above its short-term average, though momentum is easing.

What levels should be tracked?
Support lies at ₹66.00–₹62.00, while resistance is at ₹78.00–₹83.00.