The stock has closed just above its SUPPORT ZONE OF 148-151. History - This ZONE had acted as a SUPPORT for long time. Possible Reversal can be seen.
1. At strong Support zone 2. Retracement done from high to low (61.8 fib level) 3. Consolidation going from few days (possible breakout) 4. RSI divergence in smaller time frames. 5. MACD about to give crossover* 5. Decent delivery percentage (around 26% on 14/05/2021)
Buy @CMP for a near term TARGET OF 175-180 (OR 50-DAY EMA)
SL - 146
FAVOURABLE RISK TO REWARD = 1:5 (for Target->175)
Feel free to share your feedback and queries.
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Breakout....lets see if it can sustain
Trade active
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Slowly and steadily the price is somewhat increasing :) closing above 158 today can give a big momentum tomorrow
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Great Buying seen today. We are in 4% profit now :) hold it positionally for long term or sell near 50 day ema :)
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I repeat that closing above 158 can give big momentum
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4.3 % up today :)
1) Closing above 10 day EMA placed around 157 (good indication) 2) Great Volumes today ( around 2cr 15 lakhs) 3) Facing resistance at 20 day EMA placed around 161.50 4) Shift SL to 154
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Today's update : selling pressure due to "friday factor"
with volume fall.... supported by buying at the support level(which was the resistance before) . Tested its breakout level today. Hope to see a +ve movement on monday.
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Shift SL to 158
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Trail your SL now :)
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closing above 20 EMA is a good sign. next target is 50 EMA placed around 172. Apply strict SL to minimize your losses. Happy trading :)
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A rounding bottom can be seen in 1D timeframe. Breakout above 165 with good volumes will give a good move. Hold tightly.
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May be accumulation is going on.... but don't know why this fall 3% today. SL not triggered as of now.
I will not sell at 158... hold if you can
- 1:40 pm (25-05-2021)
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All the negative sentiments absorbed today.
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Facing heavy resistance at 165. A good move can be seen after it is broken with good volumes but I prefer booking profits near 165 as market can anytime fall from here. Fall would not be very large but we can expect a 200-300 point correction from here.
NOTE : It is only my view
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I have exited my positions around 165.75 as no momentum can be seen after 165. Trade according to your risk reward. Exited also due to risk reward. There is huge chances of market falling 200-300 points anytime. So trade accordingly.
@JatinManani1108, you can consider 145 as the last hope for upside movement. but here your money management comes into play. Trade according to your risk management.
N50-ANALYST
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at crucial support of 150
Himalaya_Sudan
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@N50-ANALYST demand region at 148-150 can be considered.
N50-ANALYST
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no doubt M&M_Fin is holding its imp support but support can be broken so i am waiting a for positive move to go long
Himalaya_Sudan
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@N50-ANALYST, yes...trade according to your risk management.