MUGHAL – Long-Term Rising ChannelMughal Iron & Steel Industries LtdPSX_DLY:MUGHALGrowingPath MUGHAL continues to trade within a well-defined long-term ascending channel on the weekly timeframe, maintaining its broader bullish structure despite periods of volatility. Price is currently positioned near the lower half of the channel while holding above a major rising trendline that has acted as support on multiple occasions over the past few years. The stock is also trading around its long-term moving average zone, an area often watched for trend continuation signals. From a sector perspective, recent budget measures are broadly supportive for steel manufacturers. Lower input costs through tariff rationalization, combined with expected growth in construction activity driven by housing incentives and development spending, could create a favorable environment for steel demand over the medium to long term. The actual impact will depend on execution, demand recovery, and overall market conditions. Technical View Long-term ascending channel remains intact. Price is holding above key structural support. Current zone may attract attention from investors looking to build exposure gradually. A move toward the upper channel boundary could unlock further upside potential. Key Levels Current Price Zone: ~76 Major Resistance: 100 – 110 Extended Resistance Zone: 130 – 140 Outlook The chart suggests a constructive long-term setup as long as the broader channel structure remains valid. Investors and traders may watch for continued accumulation behavior, improving sector sentiment, and strength above key support levels. Disclaimer: This publication reflects a technical and market-structure view only and is intended for educational purposes. It is not financial advice. Always conduct your own research and risk assessment before making investment decisions.