MMYT Make My Trip – India Travel Stock With New Bullish Trend

by Olivier on November 13, 2013

Another stock that is trying to emerge: MMYT – MakeMyTrip an Indian ADR running a travel related web portal based in India. All you need to know is in the chart.

  • Shake out
  • Consolidation period
  • Latest earnings out a few weeks ago
  • Good reaction to earnings
  • Moving average expansion implying a new trend is starting
  • Now volume needs to increase to confirm the price move

Click on chart to maximize:

Stop loss could be placed around 14.50 as the stock put in a lot of bottoming tails ‘hammering out a bottom’ in that MA 20 area.

Company description from Yahoo finance:

MakeMyTrip Limited, an online travel company, provides travel products and solutions. Its services and products include air tickets, hotels, packages, rail tickets, bus tickets, car hire, and ancillary travel requirements, such as travel insurance, and Visa processing and facilitating access. The company allows travelers to research, plan, book, and purchase a range of travel services and products in India and internationally through its Website MakeMyTrip Limited also provides its products and services through,,, and other technology-enhanced distribution channels, such as call centers, travel stores, travel agents’ network, and mobile service platform. Its customers comprise leisure travelers and small businesses. MakeMyTrip Limited was founded in 2000 and is headquartered in Gurgaon, India.

Confidence is very important – even pretending to be confident. If you make a mistake but do not let your opponent see what you are thinking then he may overlook the mistake. – Viswanathan Anand


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