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Prices on MnM have tested levels of 700 twice in the past month forming double bottom on daily charts. We can expect to go long on two counts, (1) breakout happens above 745 with above average volumes (2) provided the overall market scenario is conducive to go long as recently markets have been very volatile.
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dont see volume on point b or c
Agree.. That’s the reason, I specified that one can go long only if breakout should happen with above average volumes. These days markets are loaded with negative sentiments and hence it may not support bullish scenario due to overall bearish sentiment. It is better to look for bearish scripts in this kinda market. I just posted this since I saw a double bottom though I also noticed lackluster volumes. Thanks anyway for your view..