Underlying : Mahindra Life
View : Bullish for Short term, Medium Term and Long Term
Finding : All Time High Breakout at 298.80 with volume
1. Multiple time support zone 218 - 225 (1,2,3)
2. Resistance Tested 3 times and finally broke the Resistance with volume.
3. Nearest support : Refer Chart
4. Consolidation can be observed in...
Pure price action analysis. With the low risk setup that I see here , I don't think I would need a stop loss.
1,2,3 Pattern on display is the beginning of every great move and when it falls within a pattern of a triangle breakout and retest as well as an inverted Head and Shoulder pattern + a reversal at RSI bottom what else do I need.
Holding with Patience....
Falling Wedge Breakout.
The orange line in this chart seems to be a very significant line providing early directions of rallies.
Instead of me explaining, a few minutes of observation could give you a better understanding.
As per my sister history will repeat itself.
According to her this share is following the same pattern formed in December month 2019(1,2,3, Pattern), if within two or three days it falls, following Nifty or if it breaks its support @322 it will fall & takes downward momentum and we can short the share right after the confirmation given by the bearish red candle...
The stock is showing sign of TREND REVERSAL . It has completed the double bottom and 1-2-3 Reversal pattern. One can trade the stock for a target of 146.50. Once can also consider investing the stock for medium term perspective. RSI above 50 is confirming the decision.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy...