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Following long-term consolidation from Feb 21 to Sep 21. On its trendline, M&M stock price has given a breakout.
Stock price has formed a pennant pattern, with support at 734.
The fundamentals of the stock are below average and do not point in one direction.
Breakouts prior to the results of FY21Q2 can be considered positives for bulls.
A sustained price above...
Motilal Oswal is a Mid size brokerage firm, which also provides services like Wealth Management. The company has a Mcap of INR 12K Crore.
The stock price is trading at a PE ratio of 10.26 with historical PE of 25 and sectorial PE of 27.6.
The stock trades at moderate volumes usually. Unprecedented volume rise can be seen between 4 May - 6 Aug 2021 with rising in...
After correcting from highs of 260-265 in June 2021, the stock has taken support on the midterm trend line, that it has been following since April 2020.
As the stock gained support from the breaking point of 200, it started climbing up the ladder with MACD and RSI supporting its price movement.
Despite the price move up, volumes are still awaiting confirmation.
The stock has tested the Resistance region for quite a significant time.
With clear spikes in buying volumes.
On RSI, Stock has also recovered after testing the 50 line.
Promoter holding has increased by almost 10% in the last quarter.
Stock is trading a PE of 8.21 which quite similar to historical PE. But it significantly lower than the industry PE of 23.8.
After spending considerable time in the range of 200-240. The stock has given bullish signals on both indicators for the breakout.
The sustained price movement above 240 can be considered as a breakout.
A significant bullish move can be seen till 285-290.
VEDL has recovered from the oversold region on the RSI indicator. Also, a Golden cross might be seen on the MACD indicator in coming trading sessions.
Pricing is holding above shorter and long-term moving averages.
Longs can be taken with an SL of 249.
Exide industries is following a short term trend line. Indicators are positive.
Stock Reversed from the support of 177.
Bullish move can be seen in coming days.
Be cautious of the trend line break in opposite direction.
First Target will be 210.
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Gold has recovered from the support level of 44000 and now it has resumed its bullish move Indicators are confirming this trend too.
Add gold to your portfolio now.
Major Multi assets funds are betting on gold more than the top equity market stocks.
Tata Power is following the Medium Term trend line from November 2020. Confirmation above 115 can be considered a breakout.
RSI is climbing more and more above 50 but waiting for MACD golden crossover will be a wise decision.