MOL | Strong Breakout Above Supply Zone | Flag + 200 EMA Confluence
Previously shared around the ₹70 level — now showing clear strength with a decisive breakout above the supply zone, backed by strong volume.
✅ Breakout Confirmation: Price has convincingly breached previous resistance, which now acts as support. The volume accompanying this move adds weight to the breakout.
📈 Flag Formation (Daily Timeframe): A clean bull flag is visible on the daily chart — a classic continuation pattern indicating further upside potential.
📉 200 EMA Support: The 200 EMA is holding well and aligns perfectly as a dynamic support, reinforcing the current bullish structure.
🧾 Fundamentals Supporting the Technicals: Recent quarterly results suggest the bottom may already be in place, adding a fundamental tailwind to the technical setup.
🟢 Conclusion: This zone offers an excellent area of value for swing traders and position holders. Watch for sustained momentum and retests as potential entries.
Previously shared around the ₹70 level — now showing clear strength with a decisive breakout above the supply zone, backed by strong volume.
✅ Breakout Confirmation: Price has convincingly breached previous resistance, which now acts as support. The volume accompanying this move adds weight to the breakout.
📈 Flag Formation (Daily Timeframe): A clean bull flag is visible on the daily chart — a classic continuation pattern indicating further upside potential.
📉 200 EMA Support: The 200 EMA is holding well and aligns perfectly as a dynamic support, reinforcing the current bullish structure.
🧾 Fundamentals Supporting the Technicals: Recent quarterly results suggest the bottom may already be in place, adding a fundamental tailwind to the technical setup.
🟢 Conclusion: This zone offers an excellent area of value for swing traders and position holders. Watch for sustained momentum and retests as potential entries.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.