MOTILALOFS Diamond Bottom Breakout and Retest

sacban89 Updated   
1. Diamond bottom pattern formation on a weekly chart indicating a bullish reversal.
2. Pattern formed after a downtrend and took almost 3 years to complete.
3. Breakout from the pattern with high volumes over several weeks.
4. Retested and now starting to move again.
5. Final Target should be equal to the height of Pattern which is 475 points.
6. The target should be calculated from the topmost part of the pattern.

Fresh Buy opportunity with very less risk and huge reward. Buy between 800 to 815

Current Price: 810
Strict SL : 775
Wide SL : 755
Immediate target : 897 (900 round figure)
Next target according to resistance on chart : 1247 (1250 round figure)
Final target according to pattern: 1375

Term: Short, Medium, and Long Term targets given
Trade active:
Short Term Target achieved. Hold with trailing stop loss.
Trade active:
Next target of 1043 on the chart is achieved. Keep holding with trailing SL.

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.