NSE: MOTILALOFS 924
-Again And Again And Again Testing Resistance
-Stock in Cup and Handle Pattern
-Missing Volume is an Issue for the strength of Pattern
-Have To Close Above 950 To Break
-Support is near 850 level.
It is trading again at the lower trendline level.
Will it hold? Is it a good time to buy?
I think that we should start accumulating with targets 1000/1093/1223
Share your views in the comment section!
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
Motilal Oswal
Good channel consolidation weekly BO with volume
Buy at cmp 955 (30% only cz weekly chart not completed yet)
Happily Add on dip 870-900 range
Positional for min 5-6months
Tgt 1000 1070 1150+
SL 800
Flag Formation
Buy Motilal Oswal Above 842
SL - 759 (WCB)
Target - 1100
What an outstanding setup. Stock broken 200 days moving average few weeks back that with long candle and with big volumes. And now price is above 200 DMA and making a flag formation. Perfect flag.
Note: This is for educational purpose only.
There seems to be a bullish breakout post 3 years of consolidation with high volume. Before breakout, there is a build up near resistance which indicates buying pressure. There is a breakout in RSI as well. Moreover, there is a breakout from 200 SMA which adds to the confluence.
SL: ₹736
Motilal Oswal is forming a triangle pattern, buy only when the resistance is broken. It is currently on its support. Keep Stop Loss at Rs.770 and go long in this trade.
