MOTILALOFS consolidation
it is forming symmetrical triangle on weekly chart. and strong support seen at 600 level. and this stock has been consolidating between 600 - 666 for the last 6 months.
RSI is at 47, which took support at 40 and raised from there.
+ADX > - ADX indicating bullishness. but ADX line is in downward indicating low momentum.
risk to reward is favorable as current price. if it sustains above 600, it can retest 660 levels once again and if that is broken 715-730 could be the next stop.
RSI is at 47, which took support at 40 and raised from there.
+ADX > - ADX indicating bullishness. but ADX line is in downward indicating low momentum.
risk to reward is favorable as current price. if it sustains above 600, it can retest 660 levels once again and if that is broken 715-730 could be the next stop.
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