There has been a triangle pattern breakout in M_M Finance
On Breakout Volume is higher than Average volume prevailing during the triangle formation.
Tgt and SL are marked on the chart for Short term trade
Tgt = 294 SL= 281
Immediate Resistance line is marked as horizontal white line
M&M forming failing three methods most probability of forming a red candle is high.
Entry 1265 SL 1272 Targets 1259,1260,1244,1236 Risk to reward 1:3 to 1:5 if you trail your Stop loss to target(s)
The setup looks amazing. Let's wait for some price action above the breakout level.
It's not a recommendation to buy or sell. This chart is for educational purposes only. Please contact your financial advisor before making buy or sell decisions.
The Short Setup is Very Clear here + on Friday there was a News Item: "RBI bars Mahindra Finance from using third-party recovery agents after Hazaribagh mishap" which is serving as the Catalyst for the Selling Pressure in this Stock. M&M Finance involved in Unethical Practices and hence the Stock Price is being Hammered.
A Classic Descending Triangle on the...
This line created a retest entry of previous breakout
Post this the stock moved swiftly towards 244
Caution once is moves below 206 as is shunted and can fall swiftly
#Watchlist
#M_MFIN (W):-CMP 202 Looks Good Above 215/220 For More Upsides :)
#Disclaimer:-View shared is for educational purposes only. Conduct your due diligence before making any trading or investment decisions.
#StockToWatch
Chart -> Mahindra and Mahindra Finance Weekly
As we can see in the chart, whenever stock tried for an up move, it got rejected 6 times from the same resistance line in the last 4 years.
Now it has given a close above that trendline with a bullish marubozu candle, indicating completion of the bearishness.
One can accumulate in the medium to long term.
CMP: 197
A...
NSE:M_MFIN
as we can see harmonic PRZ (1=198.790, 2 = 201.05), still far from current price so one can still long till PRZ levels with closing basis stop loss (167.60).
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them....
M&M Fin is at crucial supply zone of 169. A closing above this level can trigger a good momentum move towards 180/196.
Happy Trading :)
Disc: Chart posted only for learning purpose.
short below 138.5 in intraday
For stoploss in Intraday use 5 minute chart and see nearest resistance.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapdown or bd before...
