M_M reported a combined net profit of Rs 163 crore for the quarter ended March (Q4 FY21).
As per Technicals, The stock seems to be stalling at 0.5 Fib resistance.
Once it breaks out from the resistance, 900+ can be anticipated.
Furthermore, a bearish harmonic pattern stands in the way which might hinder the Up-trend.
A long Daily downtrend appears to have bottomed out with a surge in volumes forming a "Butterfly" harmonic pattern.
Breakout of the Rounding Bottom is indicative of a Bullish Reversal, which could push up towards the next resistance zone.
1. Inverse Head And Shoulder on Daily Chart
2. Bat Harmonic Pattern (Magnetic Action) completion. (Potential Target ~130)
3. Price also in a bullish channel.
4. Upcoming earnings event
5. About to break a 200 EMA on a weekly chart. NSE:NTPC
