anuragsahu614

Pullback entry after breakout.

Long
NSE:M_MFIN   MAHINDRA &MAH FIN
After the breakout from a resistance of 170 zone, M&M FIn has entered to a new bullish territory, and is testing its previous resistance. Good signs are that a bullish engulfing candle has formed taking support of 20 EMA and RSI is also in bullish zone. Entry can be done from current levels till 173 with a SL of low of the breakout candle i.e. 171, hoping for an up move upto 200. targets can also be seen as per fibonacci levels. Any move below 165 will end its trend.
Comment: RSi BUllish HIdden DIvergence formed on sept 20th and sept 28th, it can be seen clearly on the line chart.
Comment: 1st target of 200 reached, trail sl
2nd target 210.