#NSE:M_M formed Bullish rectangle, Safe players may check post breakout zone,
and experienced/risky players may check support zones for entry points.
All the levels marked for practice only.
Complete April month performance shared for our friends, check out my signature for details.
Happy LEarning !!
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...
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...
I am posting this as one of the follower from twitter requested for it.
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...
M_M has been trading in a narrow range since last few months. Now it is ready to break the trendline.
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.
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..
EXPLANATION : This is a Daily time frame chart of M_M . The stock has been exact Demand zone , It has formed a Descending Triangle Pattern , Double Top Pattern on 4 hr time frame , If stock has been break the zone with high volume & Retest Demand zone , ( Support Become Resistance ) Go short . If taking Support at exact zone , I am seeing a very good buying...
M_M was in uptrend and recently price failed to create New High and made Lower High which indicates it as a double top pattern
Price is currently resting at neckline. It is weak below 790 Level (if fall continue watch out for breakdown and a strong rejection candle during retest)
Price was at important support/resistance levels and once it breaks, it comes back to retest the breakout levels and moved up 180 points in 4 weeks time. One can expect the price to reach the ATH as soon as possible.
Other little information are in the chart which are mostly self explanatory, ask technical doubts.
If you find my analysis helpful . . . . ....
I hope you can now see how M_MFIN represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...