CMP : 5163.05 (27-06-2023)
ABOUT : LTIMindtree Limited is an Indian multinational information technology services and consulting company headquartered in Mumbai. One of the leading Big Tech companies.
TECHNICAL ANALYSIS CANDEL STICK CHART VIEW (DAILY TIME FRAME)
(CLICK ON ABOVE IMAGE FOR CANDLE STICK CHART VIEW)
OBSERVATION :
As we can see the stock has been consolidating since 11th NOV 2022 and had formed a DOUBLE BOTTOM pattern on a daily time frame. currently the stock is trading near its resistance zone. once the stock gets break out of its neckline (resistance zone) further we may see up side rally towards equal distance from bottom to neckline. Expecting (20-25%) returns coming days/ weeks.
ABOVE 5230 LEVELS CAN BE GOOD BUYING OPPRTUNITY.
How DOUBLE BOTTOM pattern works ? ( click here )
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Note : It's important to note that the is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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