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CA Omkar Bhutada - SEBI Reg IA

19th Sep · SEBI-Registered Analyst

🚀 Cup & Handle Breakout Setup on Strong Financial Stock!

MOTILALOFS
🔎 Technical View Elliott Wave Structure: The stock has completed its corrective wave and is now moving into a fresh impulsive leg, supported by higher highs and higher lows. MACD: No bearish divergence visible — momentum remains bullish with rising histogram bars. AVWAP: Price is sustaining well above AVWAP support near ₹880, indicating strong accumulation in this range. Pattern: A clean cup formation with handle consolidation suggests a potential breakout rally. 📊 Fundamentals at a Glance Strong financial services franchise with consistent profit growth. Healthy ROCE levels, reflecting efficient capital usage. Business model aligned with structural growth in India’s equity participation. 🎯 Key Levels Breakout Zone: ₹1,030 Support Zone: ₹880 Potential Target (Post Breakout): ₹1,300 – ₹1,400

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