Mahindra and Mahindra Flag and Pole Breakout
A very clean Flag and Pole Breakout has happened in M&M in weekly basis.
No wick in the Breakout Candle indicates a strong hold of Buyers on such level.
Usually, such kind of breakouts give their targets very fast as price goes in Pole & Flag & then Pole pattern.
Also, Price can come below for Retest making a much more suitable entry and Great Risk to Reward Ratio.
Entry (2950), Target(3800) and SL(2650) are also drawn in charts.
SL is based on weekly sustaining basis.
Follow for more such content.
Disclaimer: It is analysis done by me for educational purpose only and is not a recommendation :-) ;-)
No wick in the Breakout Candle indicates a strong hold of Buyers on such level.
Usually, such kind of breakouts give their targets very fast as price goes in Pole & Flag & then Pole pattern.
Also, Price can come below for Retest making a much more suitable entry and Great Risk to Reward Ratio.
Entry (2950), Target(3800) and SL(2650) are also drawn in charts.
SL is based on weekly sustaining basis.
Follow for more such content.
Disclaimer: It is analysis done by me for educational purpose only and is not a recommendation :-) ;-)
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.