Currency Grow (CA & SEBI Reg IA Omkar Bhutada) · 19th Sep
🚀 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