MTNL after few weeks of consolidation is again trying to regain prior highs. The stock is bouncing from 0.382% fibo levels and has given a close above prior resistance levels. Looks prime to attain recent highs in coming weeks.
Disclaimer- Only for education purpose.
Box Formation formed on MTN and the Prev. trend up
We need the price to break either ABOVE or BELOW the formation before I make any decisions.
The funny thing about MTN is how consistent the sideways moves have been for decades.
It has a personality of its own and is only something you pick up after being in the markets for a few decades.
Anyway, I like to...
NSE: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...
