!!MAHINDRA MOTORS POSITIVE BUILT-UP!!

Dec 17, 2017

1)MONTHLY CHART
-The stock managed to close above its previous crucial resistance zone
-we saw a pennant breakout
-macd turned positive
-rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months
-if the stock manages to close above 1478 on monthly basis then we will achieve higher levels


MONTHLY TRADEVIEW
BUY @1480
STOP @1430
TARGET @1580-1660
ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS

2)WEEKLY CHART
-on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016
-rsi has gained strength
-macd has shown positive momentum
-we saw a symmetric triangle pattern on weekly chart
-we saw a symmetric triangle-breakout

WEEKLY TRADEVIEW
BUY @1478
STOP @1430
TARGET @1530-1550-1580
TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE

3)DAILY CHART
-rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone
-macd has shown positive crossover

DAILY TRADEVIEW
BUY @1478
STOP @1450
TARGET 1508

Dec 18, 2017

Note

DAILY TRADE TARGET ACHIEVED

Dec 18, 2017

Note

Dec 19, 2017

Trade closed: target reached

2nd target hit

Dec 19, 2017

Note

weekly target hit

Dec 20, 2017

Note

Dec 20, 2017

Trade active

FOR OUR 3RD TARGET

Dec 20, 2017

Note

NOW I HOPE FEW PEOPLE HAVE LEARNT TO TRADE THE TRIANGLE PATTERNS.......
NOW WE WAIT FOR OUR PULLBACK WHICH HAS ALREADY BEGAN I EXPECT IT TO CORRECT MORE