NNiveshak

MAHINDCIE, A morning star appeared

Long
NSE:MAHINDCIE   MAHINDRA CIE AUTO
if you club the price action of the two recent candles (22nd and 23rd) as one single candle i think we have a valid morning star .
1. price is above long term moving averages of 150 and 200 SMA
2. Price is not above short term moving average of 50 SMA
3. Uptick in RSI
4. MACD Ok ✔
5. price breaking out from triangle pattern ABC
6. above average volumes ❌
It looks like a good risk-reward trade. More conservative approach maybe to see better volumes.

Price penetrating and closing below the lower parallel line of the pitchfork will mean the idea has failed.


**I will be posting ideas for my own journal-ing and learning sake and to hopefully spark up educational discussions. Please do not construe them as recommendations as I am just an amateur here to learn :)
Trade active: Target: 264
SL: 224