MOTILALOFS - FIB levels, Trendline and Pattern Study 19-Sep21MOTILALOFS - (On-Watch)
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Option 1 -- BULLISH if, Triangle pattern breaks out and
then, a close above 835 and 860 is seen..
Option 2 -- BEARISH if, Triangle pattern breaks down and
then, a close below 755 and 725 is seen.
Technicals:
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- Long term UP trend is intact (Green Line).
- Symmetrical triangle for >1 month (In-Decision?? or Continuation??)..
- On 13-Sep21 , there was a confluence of :
:: Price making a HL after ~2months of correction.
:: FIB 61.8 level being held
:: price bouncing from short-term (Yellow) Trendline.
Fundamentals:
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- Very Cheap valuation ( pls comment if you know why??).
- Current TTM EPS is the highest ever.
Approach (Cat on the Wall):
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A Cat on the wall is never ever confused on how to jump.. But which side to jump.
And it always chooses the most favorable and less riskier side.
