We 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...
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...
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...
It 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...
Stocks to keep on the radar for upcoming sessions.
2. Axis Bank
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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Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
A / 1 as clean 5 wave rise.
Deep zigzag correction in B/2
- 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...
MFSL:- Rounding bottom pattern has been formed, breakout has also been given, keep your eye on the stock
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to...
Plan To Enter At Conservative Levels 750 -753,
Partial Exit At Target 1 And Trail Remaining For Target 2.
Adjust Your Stop-Loss To 707 Once Target 1 Reached.
Avg Entry Can Be Done At Aggressive Level 728 - 730
The NSE:MFSL is showing the previous High High (point #3 in chart) or Higher Low (point #4 in the chart) as the range bounded movement.
Potentially the move can happen in any direction.
But quite likely it will be in upside only as the volume buildup is positive and increasing.
Trade : Both sides ( green color price tags for Long, red color price tags for...