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BTST IN M&M
s can be seen the price is trading above the Cloud decisively and is in line with the broader markets movement of Nifty. The issue can be added near kijun level. One concern is the flat Cloud B line which means stock is flat movement. therefore advisable to add small portions on dips and once conclusively trading above 260 with upward move of Cloud A and B line, ...
currently the structure in itself looks extremely strong , minir ups and downs neglecting in intraday ! the stock according to me is set for a one way rally of 4/5 % + in coming days !
Levels Mentioned in chart
Mentioned in chart
Buy Tech Mahindra at 638
Strictly positional basis; no intraday
SL your own :)
As target always get hit
in short term the stock looks weak and can see more downside
Short TECHM below 460
Down ABCD pattern on M&M.
Long entry - 1307 to 1316
Target 1 - 1354
Target 2 - 1370
Stop loss - 1280
I hope we know the rules how to play, else refer Tatasteel & India Cements post.
Happy Trading !
Cup and Handle formation. Also it tested its support line. Will continue its upward journey from hereon.
It is been observed on the daily chart that the price action firstly forms a double bottom at 1140 levels and then went up and breaks above the previous resistance of 1215 levels. Then it consolidates in a downward channel or flag formation and now it has broken and closed above the channel/flag indicating further bullish move ahead.
:- Neutral stance as of now, as the move currently not confirm as the c wave is not confirm as it can go more south until 161% retracement.
:- but if it breaks to the upside it may form a new leg of the move.
:- risky trade( short when close below 100MA book profit at 161.80%) (long when break the trend line to the upside)
:- and yes it is also holding middle ...
Mahindra breaks out of a good consolidated range on hourly. Looking forward for a close above 1488 to confirm a daily breakout of the range.
I'm not sure why, we are getting back to back breakout trades today morning, sharing few of those with you. Yet to check Nifty chart, may be we will have breakout there also.We can see from chart how long M_M is within that rectangular range and looking for breakout. It will be positional trade, so breakout also takes time if M_M moves to upside on pullback.We ...