๐ M&M | How to Trade a Bullish Engulfing in a Rising Channel
๐ Stock: Mahindra & Mahindra Ltd (M&M)
โณ Timeframe: Daily
๐ Chart Pattern: Rising Channel
๐ฏ Candlestick Pattern: Bullish Engulfing
________________________________________
๐น Pattern Overview
M&M is currently trading within a Rising Channel, a structure that often reflects sustained bullish momentum. On the latest daily chart, a Bullish Engulfing candlestick has been formed, signaling renewed buying interest after a brief phase of consolidation.
________________________________________
The setup looks stronger with a Bullish Marubozu and an Open = Low candle, showing aggressive demand from the open. Price is holding well above VWAP, confirming bullish bias. A BB Squeeze Off signals volatility expansion ahead, while the recent false breakdown indicates sellers got trapped and buyers are back in control.
________________________________________
๐น Key Levels to Watch
Resistance Zones: 3335 โ 3374 โ 3445
Support Zones: 3224 โ 3152 โ 3113
________________________________________
๐น Technical Indicators Snapshot
RSI is at 52, sitting in the neutral zone but leaving room for upside momentum if buying picks up. The MACD shows a bearish crossover, which is an early caution signal to watch. CCI at -14 indicates neutral sentiment with no strong bias, while Stochastic at 55 is mid-range, suggesting neither overbought nor oversold conditions at the moment.
________________________________________
๐น Candle Analysis
Candle 1 (Yesterday): High 3280 | Low 3187
Candle 2 (Today): High 3302.10 | Low 3191.10
๐ The todayโs candle engulfed the previous sessionโs body, confirming the Bullish Engulfing pattern.
________________________________________
๐น Trading View (Educational Insight Only)
A Bullish Engulfing inside a Rising Channel generally indicates continuation of the prevailing uptrend. If price manages to probably sustain above the 3335โ3374 zone, it may signal strength for further upside. On the other hand, if the stock probably slips below the 3224โ3152 support zone, it could lead to short-term profit booking.
________________________________________
๐ โAll price levels mentioned are as observed at the time of writing and may change with market movements. Readers are advised to track live prices before making any trading or investment decision.โ
โ ๏ธ Disclaimer โ Please Read Carefully
The information shared here is meant purely for learning and awareness. It is not a buy or sell recommendation and should not be taken as investment advice. I am not a SEBI-registered investment advisor, and all views expressed are based on personal study, chart patterns, and publicly available market data.
Trading โ whether in stocks or options โ carries risk. Markets can move unexpectedly, and losses can sometimes exceed the money you have invested. Past performance or past setups do not guarantee future results.
If you are a beginner, treat this as a guide to understand how the market works โ practice on paper trades before risking real money. If you are experienced, always assess your own risk, position sizing, and strategy suitability before entering trades.
Consult a SEBI-registered financial advisor before making any real trading decision. By engaging with this content, you acknowledge full responsibility for your trades and investments.
๐ฌ Found this useful?
๐ผ Give this post a Boost to help more traders discover clean, structured learning.
โ๏ธ Drop your thoughts, questions, or setups in the comments โ letโs grow together!
๐ Share with fellow traders and beginners to spread awareness.
๐ โIf you liked this breakdown, follow for more clean, structured setups with discipline at the core.โ
๐ Stay Calm. Stay Clean. Trade With Patience.
Trade Smart | Learn Zones | Be Self-Reliant ๐
๐ Stock: Mahindra & Mahindra Ltd (M&M)
โณ Timeframe: Daily
๐ Chart Pattern: Rising Channel
๐ฏ Candlestick Pattern: Bullish Engulfing
________________________________________
๐น Pattern Overview
M&M is currently trading within a Rising Channel, a structure that often reflects sustained bullish momentum. On the latest daily chart, a Bullish Engulfing candlestick has been formed, signaling renewed buying interest after a brief phase of consolidation.
________________________________________
The setup looks stronger with a Bullish Marubozu and an Open = Low candle, showing aggressive demand from the open. Price is holding well above VWAP, confirming bullish bias. A BB Squeeze Off signals volatility expansion ahead, while the recent false breakdown indicates sellers got trapped and buyers are back in control.
________________________________________
๐น Key Levels to Watch
Resistance Zones: 3335 โ 3374 โ 3445
Support Zones: 3224 โ 3152 โ 3113
________________________________________
๐น Technical Indicators Snapshot
RSI is at 52, sitting in the neutral zone but leaving room for upside momentum if buying picks up. The MACD shows a bearish crossover, which is an early caution signal to watch. CCI at -14 indicates neutral sentiment with no strong bias, while Stochastic at 55 is mid-range, suggesting neither overbought nor oversold conditions at the moment.
________________________________________
๐น Candle Analysis
Candle 1 (Yesterday): High 3280 | Low 3187
Candle 2 (Today): High 3302.10 | Low 3191.10
๐ The todayโs candle engulfed the previous sessionโs body, confirming the Bullish Engulfing pattern.
________________________________________
๐น Trading View (Educational Insight Only)
A Bullish Engulfing inside a Rising Channel generally indicates continuation of the prevailing uptrend. If price manages to probably sustain above the 3335โ3374 zone, it may signal strength for further upside. On the other hand, if the stock probably slips below the 3224โ3152 support zone, it could lead to short-term profit booking.
________________________________________
๐ โAll price levels mentioned are as observed at the time of writing and may change with market movements. Readers are advised to track live prices before making any trading or investment decision.โ
โ ๏ธ Disclaimer โ Please Read Carefully
The information shared here is meant purely for learning and awareness. It is not a buy or sell recommendation and should not be taken as investment advice. I am not a SEBI-registered investment advisor, and all views expressed are based on personal study, chart patterns, and publicly available market data.
Trading โ whether in stocks or options โ carries risk. Markets can move unexpectedly, and losses can sometimes exceed the money you have invested. Past performance or past setups do not guarantee future results.
If you are a beginner, treat this as a guide to understand how the market works โ practice on paper trades before risking real money. If you are experienced, always assess your own risk, position sizing, and strategy suitability before entering trades.
Consult a SEBI-registered financial advisor before making any real trading decision. By engaging with this content, you acknowledge full responsibility for your trades and investments.
๐ฌ Found this useful?
๐ผ Give this post a Boost to help more traders discover clean, structured learning.
โ๏ธ Drop your thoughts, questions, or setups in the comments โ letโs grow together!
๐ Share with fellow traders and beginners to spread awareness.
๐ โIf you liked this breakdown, follow for more clean, structured setups with discipline at the core.โ
๐ Stay Calm. Stay Clean. Trade With Patience.
Trade Smart | Learn Zones | Be Self-Reliant ๐
๐ STWP | Mentor | Demand & Supply Specialist
๐ฏ Helping you become a self-reliant & independent trader
๐ Learn more: simpletradewithpatience.com
๐ฒ WhatsApp: wa.me/919987567889
๐ Trade with Clarity. Learn with Patience.
๐ฏ Helping you become a self-reliant & independent trader
๐ Learn more: simpletradewithpatience.com
๐ฒ WhatsApp: wa.me/919987567889
๐ Trade with Clarity. Learn with Patience.
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.
๐ STWP | Mentor | Demand & Supply Specialist
๐ฏ Helping you become a self-reliant & independent trader
๐ Learn more: simpletradewithpatience.com
๐ฒ WhatsApp: wa.me/919987567889
๐ Trade with Clarity. Learn with Patience.
๐ฏ Helping you become a self-reliant & independent trader
๐ Learn more: simpletradewithpatience.com
๐ฒ WhatsApp: wa.me/919987567889
๐ Trade with Clarity. Learn with Patience.
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.