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MATRIMONY.COM LIMITEDMATRIMONY.COM LIMITEDMATRIMONY.COM LIMITED

MATRIMONY.COM LIMITED

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MATRIMONY trade ideas

MATRIMONY - Ready for BreakoutMATRIMONY - Matrimony.com Ltd shows a promising technical setup with signs of a potential bullish move, given certain conditions are met. Here’s a detailed analysis: 103-Week Downtrend and Consolidation: The chart indicates a prolonged downtrend lasting about 103 weeks, followed by a consolidation phase of similar length. This long consolidation after a downtrend typically signifies accumulation, where sellers lose strength and buyers start gaining control. Double Bottom Pattern: A double bottom has formed, which is a bullish reversal pattern. This suggests that buyers are stepping in at a certain support level, preventing the price from declining further. Stage 2 Breakout: The stock has successfully broken out of its Stage 2 area, indicating a transition into an uptrend. This is typically a strong sign that the stock is moving from consolidation to growth. Small Base Formation and Support: After the breakout, the stock formed a small base above the support level, showing stability and giving further confidence in the continuation of the uptrend. This base acts as a springboard for further upward movement. 20-Week and 40-Week Moving Average Crossover: The chart shows a bullish crossover where the 20-week moving average crosses above the 40-week moving average, confirming the beginning of a potential uptrend. This crossover often acts as a strong buy signal. Volume Analysis: Volume appears to have increased significantly on breakout days, suggesting that institutional buyers are likely entering the stock, which further supports the bullish scenario. Targets: If the stock sustains above the small base and support levels, it may reach the following targets: Target 1: ₹990 Target 2: ₹1,041 Target 3: ₹1,200 Conclusion The technical setup of Matrimony.com Ltd. is showing bullish signals, with a double bottom pattern, Stage 2 breakout, moving average crossover, and high volume support. The stock appears ready for an uptrend if it holds above its current support level. A break above the small base would provide confirmation, and it may reach the projected targets in the coming weeks.
NSE:MATRIMONYLong
by Profit_Trader25
watch for resistance breakoutbuy above 1085 for swing and Intraday for swing keep Sl at 1000 For stoploss in Intraday use 5 minute chart and see nearest support. for target use 5 min chart and fibonacci pivots as i don't keep predefined target. try to book partially and trail. Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis NOTE: For Gapup or bo before 9:20 If gapup is more than 1% from bo level than avoid completely. if less than 1% or gives bo before 9:20 than wait for first 5 minute candle and entry above 5 minute candle and revised SL below candle Low.
NSE:MATRIMONYLong
by stockkar