MTNL- Inv. H&S breakout done on monthly. Currently at resistance. Weekly candle close above the resistance of 51.80 will take it to the mentioned chart.
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📈 MTNL @51-53
✅ firstly broke 11 year old trendline then came back to retest and sustained there for 1.9 year, now already broke 15 year old resistance with strong candle and high volume
✅Rsi bullish Divergence in monthly time frame says a lot, momentum is also very strong
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and...
In the world of technical analysis, Mahanagar Telephone Nigam Limited (MTNL) is currently displaying a noteworthy pattern on the monthly time frame. The charts suggest a keen reversal, offering a compelling narrative for traders seeking opportunities exclusively through technical indicators.
The monthly time frame reveals a distinct shift in momentum for MTNL,...
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days...
Stock has given BO on daily chart with good volume, trading near 2years resistance area making double bottom, above this level will be good move, follow chart for proper support and resistance levels.
There is 1 year long Double Bottom Adam & Eve in MTNL. Surprisingly this the most perfect Double Bottom I have ever seen( in real charts ofc).
Pros are-
1. Volume is good
2. Pattern is good
3. Breakout is just about to happen
4. Some other indicators are bullish
Con is-
1. RSI in Weekly timeframe is as high as it can reach!!
I am not a Financial Advisor( It is...
MTNL is going to be multi beggar investing concept & its showing strength keep eye on radar with stoploss of 16.50 as on weekly basis with TGT of 60 in up coming weeks don't bound this stock in time frame risk reward in favour for more details Kindly follow us
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
TLBO in MTNL Daily Chart.. Also taking 200 ema ema support on daily chart.. Good reversal from strong support around 17-18 levels.
Good to buy around 24-25 for target of 30 and 40+
Keeping SL below 200 ema on daily basis
