M&M Finance - Did you come out of kitchen- Heated at 350 to 290

574 10
The fall looks impulsive & started falling from the top edge of the channel which was expected.

Previous Update - Can't stand the heat- come out of the fin kitchen

Trading Strategy
285-290 zone if holds next then it should bounce to 310-315 zone if achieved & we see resistance coming then we shall plan for sell on the bounce here as well.
May 24
Trade active: 10:10 Hrs 25th May2017

Lat Price@300

It started bouncing from yesterday's low of 290's
May 26
Trade active: 11:00 Hrs 16th May2017

Last Price@312

Day High@316 Bang on for the expected bounce -infact all done at 315 as stated above.

May 26
Trade closed: target reached: 12:09 Hrs 26th May2017

Last Price@310

Target achieved from 290's to 315 - done & out.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
@AbhishekHSinghCMT. Is it time to short at 332 ? If this fall is impulsive, then can this retracement be shorted ?
i want to invest in few good stocks, can you please suggest good stocks for investment Please
do you recommend buying now at 295
@Anand7, It was expected to bounce - which I have written.
smghasan7 AbhishekHSinghCMT
@AbhishekHSinghCMT, this is really interesting since it did bounce. Can you share why you expected it to bounce n not break the trendline? Thanks in advance
@smghasan7, counting waves 1-2-3 down from upside@350's & bounce in wave 4 done then fall back.
It is tricky call , Buy at 285/290 or sell at 310/315.
@AMBRISH, I think selling is advisable if 310-315 gives resistance next.
Do you recommend going short if it closes around 290 levels tomorrow? The rising wedge seems to be broken here which would indicate going short. I am new so need your expert advice please.

Appreciate your work as always
@smghasan7, Selling in 310-315 is advisable if you see reistance or remind me or ping me on the post.
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