MTNL Testing the 50 EMA with Potential Breakout- Keep In Radar

14 Eki 2024

✅ The stock is currently testing the 50 EMA near ₹55, with the price trying to break out from a descending resistance line. If successful, this could indicate a reversal in trend with further upside potential.

✅ The RSI is at 47, showing that the stock has room for upward movement without being overbought. A breakout above the 50 EMA and resistance line could push the stock toward ₹65-₹70 in the near term.

✅ Volume is showing signs of accumulation, and a confirmed breakout with increased volume will reinforce the bullish scenario. Watch for sustained action above ₹55 for confirmation of the trend reversal.