Swing / Positional Opportunity in Mahindra and Mahindra Finance
Go Long above 161.1 for Targets of 169.6, 178.1, 186.6, 195.1, 203.6, and 212.1 with SL 152.6
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed around 0.618 Fibonacci level.
3. Also there is a demand/ supply zone (marked with a green rectangle ) around 0.618 Fibonacci level.
4. In addition to this we can see there was a huge volume in today's (20 May 2021) trading session as compared to previous sessions.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed around 0.618 Fibonacci level.
3. Also there is a demand/ supply zone (marked with a green rectangle ) around 0.618 Fibonacci level.
4. In addition to this we can see there was a huge volume in today's (20 May 2021) trading session as compared to previous sessions.
Trade active
Entry triggered on 21 May 2021Trade closed: target reached
Target 1 achieved on 07 June 2021. Now trail SL to Buy price for higher targets.
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