Diamond Bottom Pattern Formation

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Daily Chart analysis of MAHINDRA LOGISTICS
Mahindra Logistics stock price has reached a point of stabilization and is displaying indications of a potential reversal. Following a period of uncertainty or consolidation, the price has broken out in an upward direction, suggesting a shift in market sentiment. This pattern is known as the Diamond Bottom, which initially forms during a downtrend with a series of higher highs and lower lows.

Subsequently, the price range gradually narrows, accompanied by an upward trend in the lows. The breakthrough of the diamond's boundary lines confirms a substantial reversal, signaling the start of a new uptrend.


Note for everyone who came across this reference:
  • This chart analysis is only for reference purpose.
  • This is not buying or selling recommendations.
  • I am not SEBI registered.
  • Please consult your financial advisor before taking any trade.
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