NASDAQ 100 ETFMON100
Can add for long-term investment purpose.
Motilal Oswal NASDAQ 100 ETF is in the ETF sector, having a market capitalization of Rs. 6933.85 crores.
Till now:
MON100 high: Rs.138.6
MON100 low: Rs.27.4
MON100 trade ideas
NASDAQ 100 ETF READY TO TAKEOFF-- ROUNDING BOTTOM PATTERNHere are the key characteristics of the rounding bottom pattern:
Downtrend: The pattern typically occurs after a prolonged downtrend, indicating a possible reversal of the bearish trend.
Rounded Decline: The price gradually declines over a period of time, forming a rounded bottom.
Consolidation: After the decline, the price enters a period of consolidation, where it trades within a relatively narrow range.
Rounding Ascent: Following the consolidation phase, the price starts to rise gradually in a rounded manner.
Volume: Ideally, the trading volume should decrease during the rounding decline and consolidation phases, and then increase as the price begins to ascend. This increase in volume confirms the potential reversal.
Resistance Breakout: The rounding bottom pattern is considered complete when the price breaks above a resistance level, usually drawn from the highest point within the rounding decline.
Traders and analysts use the rounding bottom pattern to identify potential buying opportunities. The pattern suggests that selling pressure is diminishing, and buying interest is gradually gaining momentum. However, it is important to note that the rounding bottom pattern is not foolproof, and other technical indicators and analysis should be used in conjunction to confirm the pattern and assess the overall market conditions.
As with any technical analysis pattern, it's always recommended to combine it with other forms of analysis and indicators to increase the probability of making accurate predictions.
