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Umang_Sharma
Sep 21, 2020 7:14 AM

M&M: Analysis Long

MAHINDRA &MAHINDRANSE

Description

Keep an eye on M&M it has given a suspected breakout from parallel channel and retracing back to original level. If this isn't a breakout hen their is a chance of upward momentum in upcoming days.
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Reason to Buy:
1) Possible breakout from parallel channel formed in daily time frame.
2) Holding higher levels.
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Safest entry point would be at 659.90 levels or above. Stop loss must be below the previous immediate swing. Calculate your RR ratio and trade accordingly.

Comment

Fake breakout market sentiment is negetive

Comment

Forming a parallel channel.

Comment

Still Range-Bound.

Trade closed: stop reached

SL Hit Exited trade
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