Tight Range Breakout | MFSLFor Education Purpose only!!!!
**MFSL stock is already up by 3%, but it’s holding up well in this falling market. I'm charting this stock just for my own perspective and clarity, though I may not be 100% accurate.**
FIIs are playing their old trick:
1️⃣ Push prices down 📉
2️⃣ Buy cheap stocks 💰
3️⃣ Wait for rate cuts 📊
4️⃣ Profit big in the next bull run! 🚀
Retail investors, don’t fall for the fear!
✅Stay invested—smart money knows a bull run is coming!
News has circulated about the index predicting a target of 24,000 for Nifty and 50,500 for Bank Nifty. The price has already been quoted in the reports.
⭕️ Swing Trading opportunity: Price Action Analysis Alert !!!⭕️
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💡✍️Applied Tools:-
✅Strong Chart Pattern Breakout
✅Channel Pattern
✅Range Breakout
✅Resistance becomes support
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MFSL
MFSLENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Stock: MFSL (Max Financial Services Ltd)Stock: MFSL
Trend: Bullish
Setup: Rounding Bottom Breakout
Timeframe: Weekly Chart
Analysis:
MFSL has exhibited a classic bullish reversal pattern, the rounding bottom. This formation typically signals a transition from a bearish to a bullish trend. The stock's recent breakout above ₹1,150 confirms the completion of this pattern, suggesting a strong upward trajectory.
Key Takeaways:
1. Upward Trend: The price's position above the 50-week EMA indicates a positive long-term trend.
2. Breakout Confirmation: The successful breakout from the rounding bottom pattern reinforces the bullish outlook.
3. Volume Support: The surge in trading volume accompanying the breakout suggests robust buying interest.
Recommendation:
Given the strong bullish signals, **MFSL is a buying zone **. Traders and investors may consider entering positions with short-term targets of ₹1,250 to ₹1,300. For long-term investors, holding the stock could potentially yield even higher returns.
Keep the eyes open of MFSLOn the weekly chart, this seems worth watching as a breakout took place after the good consolidation. Below the horizontal line, it will again enter in week zone.t
This is not a suggestion to buy and sell, shared for educational purposes only. I am not a SEBI-registered technical analyst.
MFSL - Bullish Consolidation with VolumesNSE: MFSL is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
MFSL - Perfect bullish chart patternWe are looking weekly chart at this moment. MFSL is looking promising for the upside at the current level. First, the Stock has given the breakout of the long bearish trend line, and after it has given the break-out of the resistance zone. The chart structure is good, keep an eye on it.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit or loss.
MFSL the MFSL share price is trading at 703.2, which is higher than the price on June 20, 2023. The price has also been moving up in the past few days, and it is currently trading above the 50-day moving average.
The technical analysis that I provided earlier was based on the price data from June 20-22, 2023. Since then, the price has moved up, and the trend is now bullish. The price is still forming a double top pattern, but it is possible that the bears will lose momentum and the price will start to move higher.
Here are some of the factors that could influence the price of MFSL in the near term:
The overall market sentiment
The performance of the company's earnings
Any news or announcements from the company
Any changes in the political or economic environment
It is important to note that technical analysis is not a perfect science, and it is not always accurate. The price of MFSL could continue to fall, even if the technical analysis suggests that the trend is bullish.
MFSL Breakout BUY!MFSL LONG SETUP
Attached: Daily Chart as of 21st June 2023
- Price has activated an Inverted Head & Shoulders/ Cup & Handle/ Bull Flag Breakout today on the back of High Volumes (Price Volume Pattern BO)
- Laggard from Insurance is finally joining in the Sectoral Rally (Sector Tailwinds)
- The previous Dip halted at 0.382, ABC corrective (Wave 3 or Wave C upside pending)
- Daily RSI crossed above 70 today
- Daily MACD gave a Buy Signal today
Upside Target= 785/ 807🎯📈
Stop Loss= Today's Low (< 710)
Short term trade setup in MFSLIt appears that the price has hit its lowest point and is now showing indications of a reversal. This is evident as it has broken out of a period of consolidation or uncertainty and is moving in an upward direction. This pattern is commonly known as the Diamond Bottom pattern, which typically occurs during a downward trend. The pattern is characterized by a broadening pattern of higher highs and lower lows, which gradually narrows as the lows start trending upward after the highs peak. Once the price breaks out of the diamond's boundary lines in an upward direction, it signifies a significant shift to a new uptrend.
Target has been Marked.
STOCKS TO KEEP ON RADAR FOR UPCOMING SESSIONSNSE:PIDILITIND
Stocks to keep on the radar for upcoming sessions.
1. Pidilite
2. Axis Bank
3. OFSS
4. PEL
5. MFSL
All stocks have a bearish bias and the analysis is explained in the video
This is only for educational purposes only.
Always trade with stop-loss.
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Happy Trading!
Are we ready for C/3 up ??A / 1 as clean 5 wave rise.
Deep zigzag correction in B/2
Friday
- Green closing
- Lower Band support
- Momentum indicator turned up without giving sell signal
Could not get better than this with very impressive Risk-Reward ratio.
Please note this is not a trade recommendation. Only our observation based on our study.
Kindly consult your advisor for any trade / investment decision