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This is our weekly forecast, in this we are updating our weekly neowave view for bank nifty and 8 stocks. If anything changes in the count we will update you next week
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M & M made a good move today. From now, I am looking into the major line in M & M above 888. Price action wise, it's a fib 0.5 line.
exactly where it faces resistance today look 15m T.F. The month's high is 870.Let's see how it is going to respect the zone.
On the 1 Hour Chart of MAHINDRA & MAHINDRA, we can witness a beautiful Formation of "Bullish Harami" on the downside levels. Therefore, we are expecting a bullish momentum in the stock in the upcoming trading sessions. Where the stock is being expected to face a resistance initially at around the levels of 853.60, 868.90, and 885.60. In addition to this, the stock...
M&M important levels for long term investment
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
NSE:M_M is trading around 850 revels which is shy above Fib's Golden retracement level. The possibility of Upmove is good as well as consolidating for a few more days, buyer's accumulation will lead to upward momentum.
Market might move up till the demand zone is attained. Another possibility is Breaking down to supply zone. Chances of happening so is thin but...
Excellent Volumes in previous 2 sessions
Turn around from previous Resistance turned Support Area
Turn around visible in MacD too
Buy on any pullback (Near 880/900)
View negated with any close below 848
New highs expected in coming days
Risk to Reward Moderate
M&M, This stock has taken support from lower Bollinger band and 40DEMA in daily time frame.
This stock has given breakout from resistance trendline in daily time frame along with good intensity of volume, also same candle closed above 20DMA.
Wave structure is also suggesting and supporting same view to go long.
Indicators supporting are mentioned below in snap...
The analysis is done on daily TF hence price may take few days to few weeks or even months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn...
NSE:M_M
All the levels and most of the trade setup still remains the same as per previous.
Trade Setup for Date 26-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as...
NSE:M_M
I am posting this as one of the follower from twitter requested for it.
Observations:
1) On 1 day time frame, it closed just below 10DMA.
Please refer below chart : 1day Time Frame.
2) On 15min time frame we can see RSI made higher lows, while price was making flat lows. We can see a quick upmove in which we can take a quick/intraday long...
Another Breakout stock Breaking its 8-month-old trendline.
Buy M&M above 780 for targets of 810/854/891/914.
All levels are clearly mentioned in the chart.
M_M is forming descending triangle pattern in daily time frame, if it breaks the pattern you can take your trade with the above mentioned entry, target and SL.. Trade safely... This is my opinion only.. Trade with your own risk.. Thanksss. comment your views..
currently M_M is consolidating at important zone which you can see also act as a good support in 2015-16 time( you can zoom out the chart ) and it has bounced of many times from the same area in last year . stock is also nearby 200 Ema , A good closing above this will also lead the stock to new highs .
and it has also broken that trendline and retested two times...
![M_M: Simple Trade Setup | M&M | 26-10-2021 [ INTRADAY]](https://s3.tradingview.com/l/lWSt6ZPb_mid.png "Simple Trade Setup | M&M | 26-10-2021 [ INTRADAY]")
![M_M: Simple Trade Setup | M&M | 22-10-2021 [INTRADAY]](https://s3.tradingview.com/z/zQCenwdD_mid.png "Simple Trade Setup | M&M | 22-10-2021 [INTRADAY]")
