Data Patterns: Triple Bottom Breakout

4 thg 12, 2024

Title: "Data Patterns: Triple Bottom Breakout with Institutional Support"

Stock: Data Patterns

Analysis:
Data Patterns has recently given a Triple Bottom Breakout, signaling a potential trend reversal after a period of consolidation. Institutional support remains strong, despite a correction following slightly weaker previous quarter financials.

Key Highlights:

Mutual Fund Holdings: Increased from 6.14% to 6.48% in the Sep 2024 quarter.
FII Holdings: Remain robust, showcasing consistent confidence in the stock.
Correction Complete: The stock corrected earlier due to weaker financial results but now appears to be resuming its upward trajectory.
Technical Setup:

Pattern: Triple bottom breakout on the daily chart.
Support: Established around the breakout level, providing a strong base.
Momentum: Watch for increased volume to confirm the breakout.
Trade Plan:

Entry: Post-breakout confirmation above current levels.
Target: Short-term target at ₹1520; mid-term target at ₹1600.
Stop Loss: Below ₹1400 to manage risk.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.

4 thg 12, 2024

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4 thg 12, 2024

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Trade Plan:

Entry: Post-breakout confirmation above current levels.
Target: Short-term target at ₹2750; mid-term target at ₹3000
Stop Loss: Below ₹2400 to manage risk.