MMTC --keep on RADAR..for BUY list ..at correction around 46-47 level current CMP 48.50 .. Stock made high recently 64 sub level after that sharp correction upto 48 level now.. stock has strong support around 45-47 level ..before 3 times bounce back seen on chart at same level ..3 up arrow indicate on chart this level.
RSI showing in range of oversold level bellow 30 RSI can move where price correction comes to buy level 46-47 . for at next bounce from this level TARGET 50-52-55 can seen on this rally upward for stop loss 45
support and resistance explain on chart this setup apply for hourly chart so be watchful on same time frame
THIS IDEA IS FOR EDUCATIONAL PURPOSE. !! trade at own risk. !
HAPPY TRADING. ! .
RSI showing in range of oversold level bellow 30 RSI can move where price correction comes to buy level 46-47 . for at next bounce from this level TARGET 50-52-55 can seen on this rally upward for stop loss 45
support and resistance explain on chart this setup apply for hourly chart so be watchful on same time frame
THIS IDEA IS FOR EDUCATIONAL PURPOSE. !! trade at own risk. !
HAPPY TRADING. ! .
Comment:
Doji candle on hourly chart is forming ..! SIGN OF BULLISH from this level.
Comment:
Expected bounce from level of 46 after doji candle last trading session. !
Comment:
support taken from expected level 45-46 ..! 28/02/2022 ..consolidation can be seen around same level 1-2 session before big upmove.
Now on hourly chart strong bearish red back to back candle seen this are hiekin ashi candles, so next hour candle is possibly red bearish or doji (+) candle , when doji candle form that means trend reversal will start to bullish and after doji 1 green candle without pinbar downside will confirm trend reversal. this will be buy level.
keep candle as heikin ashi candle for this chart setup. !