Chart of the week. PayTM
After its listing @ 1964 PayTM is falling down like London bridge. So far it has fallen around 321% from its all time high of 1964. This week, however, the stock has done something different. After 6 months of consolidation, the stock has given breakout above 440. In my opinion, it has made a double bottom pattern. However, even if I'm wrong it has at least given a bullish rectangle breakout with higher volume. On the fundamental side, the company is almost debt free so has a huge advantage.
Whoever wishes to take this trade should know that it is a very well beaten stock with bad balance sheet. For me its a worth of a trade with small risk.
CMP - 466 (13/7/24)
T - 800, 1000 W
SL - 395 W
Whoever wishes to take this trade should know that it is a very well beaten stock with bad balance sheet. For me its a worth of a trade with small risk.
CMP - 466 (13/7/24)
T - 800, 1000 W
SL - 395 W
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.