🚀 MOTILAL OSWAL FIN LTD
What we're seeing:
The stock has shown impressive strength, making a decisive breakout above a significant resistance zone (highlighted in green around ₹740-₹770)! 🟢 This move is backed by healthy volume, adding conviction to the upside. It's a classic resistance-turned-support scenario in the making.
Potential Setup:
This breakout suggests a continuation of the bullish trend. We could look for:
Entry: A potential long entry either at current levels if the momentum sustains, or ideally, on a retest of the breakout zone (₹740-₹770), which could now act as strong support. 🎯 This would offer a better risk-reward entry.
Targets: Initial targets could be the previous highs around ₹950-₹1000, with potential for further upside if the broader market and stock momentum continue. 💰
Stop Loss: Place your stop loss comfortably below the newly established support zone, perhaps around ₹700 or a recent swing low, to manage your risk effectively. 🛡️
Important Note: Always remember to manage your risk carefully, use appropriate position sizing, and consider your own trading plan. Trade smart! 🧠📊
What we're seeing:
The stock has shown impressive strength, making a decisive breakout above a significant resistance zone (highlighted in green around ₹740-₹770)! 🟢 This move is backed by healthy volume, adding conviction to the upside. It's a classic resistance-turned-support scenario in the making.
Potential Setup:
This breakout suggests a continuation of the bullish trend. We could look for:
Entry: A potential long entry either at current levels if the momentum sustains, or ideally, on a retest of the breakout zone (₹740-₹770), which could now act as strong support. 🎯 This would offer a better risk-reward entry.
Targets: Initial targets could be the previous highs around ₹950-₹1000, with potential for further upside if the broader market and stock momentum continue. 💰
Stop Loss: Place your stop loss comfortably below the newly established support zone, perhaps around ₹700 or a recent swing low, to manage your risk effectively. 🛡️
Important Note: Always remember to manage your risk carefully, use appropriate position sizing, and consider your own trading plan. Trade smart! 🧠📊
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.
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.