Mazagon Dock Shipbuilders stock has 16% upside potential

Business: The company has reported excellent results. The stock has reached attractive levels after a good correction from ₹5,860 levels, showing signs of bottoming just above the crucial 50EMA level of ₹4,550. The RSI has cooled off substantially from the overbought zone. It is currently in good shape, indicating a positive trend reversal to signal a buy with a lot of upside potential visible from the current rate.