Rounding Bottom Pattern
Just see that lower volume backed by when the price is falling its an indication that weak hands are selling off and hence selling pressure is lower
Can be bought at CMP
Price has been getting rejected at this zone consistently and now it has formed a rounding pattern which can give a breakout above 739, pattern target is approximately 155 points post breakout.
DISCLAIMER : FOR LEARNING PURPOSE ONLY
Mahindra & Mahindra is likely to rise tomorrow from 695 that is today's closing. Stock has taken support from 674 and closed at 684 on 5 th February and it is very likely to cross the 1st resistance of 700 if it crosses 700 then stock will be bullish tomorrow. I hope stock will respect rounding bottom pattern and will not breakup in between. If there is a breakup...
Rounded Bottom Pattern formed in a downtrend.
Waiting for the charts to close above 200.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Bullish pattern with 3 falling wedges followed by symmetrical triangle which gave a breakout. The target is 520 levels. Once 520 is achieved a rounded bottom pattern would be formed. Post that we have to wait for the charts to break the neck, for further upside.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I...