Expecting good result from the upcoming qtr. Auto ancillary in bullish zone as well overall. Move pending in this counter. Expect Price to touch 79 / 94 in 1-2 months. Review thereafter for a Bigger Rally.
This scrip is expected to give breakout as it has formed good pattern. So traders keep on your radar to catch the momentum and enjoy the profit.Kindly like and share it to all your friends and needy people. Thanks to all.
This Stock is horizontally range bounded since August 2020. This time there could be a chance of breakout.
Volumes are picking up as well.
RSI showing strength.
Entering just after a breakout would be advisable, as it needs a closing above 73.
Fibo Targets are mentioned in the chart.
After breakout one could enter and keep a stoploss of 69-67.
Plan your trades...
On weekly, Price contracted beautifully and step wise. Volatility contracted which is eventually being followed by expansion.
Great quarterly results.
12 weeks flat base.
symmetrical triangle.
Upper trendline BO with volume.
Volume action in base suggests accumulation.
Munjal Auto Industries Ltd. engages in the manufacture of automobile components. It manufactures exhaust systems for two wheelers and four wheelers, spoke rims for two wheelers, steel wheel rims for two wheelers and four wheelers, fuel tanks for four wheelers, sheet metal components, seat frames for four wheelers and other automotive assemblies. The company was founded on July 12, 1985 and is headquartered in Gurgaon, India.
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