ReeAishw

M&M - Multi timeframe + Fibo+ Triangle.

Long
NSE:M_M   MAHINDRA &MAHINDRA
The auto sector has been really strong lately. In 1 Daytimeframe stock is nearby its lower trendline, Currently closed to proper valuation as shown by the valuation band in 1st chart. Also taking support from Demand zone .
In the 1Hrs timeframe it has formed a triangle pattern . It has completed 38.20% retracement and also Supported by 50 daily ema .

The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence

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The analysis is my POV , hope you got bucks in your pocket to consult a financial advisor before investing :P :)

HAPPY TRADING!!!

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