MTNL
On monthly chart of MTNL its looks like accumulating between the are of 9.75 and 39 which may be a good chance for long term investors. chart of the same is attached below.
On weekly chart though it has given a breakout to the ascending triangle (I don’t follow this kind of patterns. I just draw up and down trend line as chart suggests me) and breakout seems to be solid.
I personally would prefer to trade this counter for short term with target of 40-45 by keeping my SL at 9-8 current market price is at Rs.12/-.
Do note there was been news about merger of MTNL with BSNL and I don’t know the result of the same. Stock just pop in my screener and chart confirms bullish move hence sharing the same with you all. So before going for investment or for short term trade take a advice of your financial adviser.
one can consider this only for educational purpose.