This is one of the bullish harmonic pattern which is called bullish butterfly. Its also called XABC pattern which is auto enabled in trading view.
Harmonic pattern basically based on Fibonacci retracement. This is a very complex pattern to understand thats why accuracy of trades are higher comparative other patterns.
PRZ - 798-799
SL - 783.9
Target - 821/836/848/860
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...
M_M has been trading in a narrow range since last few months. Now it is ready to break the trendline.
Buy-Above 785
Sl-725
Target-855 930 980
Same kind of setup has been formed in Indusind Bank. I have given the trade of Indusind Bank just before the trendline Breakout. Trade is based on the same setup.
