mastermukund4

Descending Triangle Pattern - Breakout !!

Long
NSE:MATRIMONY   MATRIMONY COM LTD
Matrimony .Com is involved in the business activities of Operation of web sites that use a search engine to generate and maintain extensive databases of internet addresses and content in an easily searchable format.

The Stock has formed a descending triangle Pattern on charts and there is a clear breakout. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 17% above 200DMA. The RSI is at perfect levels to take long trade.

The Company is fundamentally sound. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth. There has been a continuous increase in stake by FPI and mutual Funds.

Don't miss at these levels. Refer chart for Targets and SL.

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