M&M swing trade to 1323 comingM&M after completing a Ending diagonal in the downward impulse made the thrust up. Expected Wave could could be A completion.
Entry: two part entry at 1283 and 1277
SL conservative: 1260
SL aggressive: 1271
Target: 1323 and if like part booking 1310 is a option
Expected hold period minimum: 5days.
Entry 1280 Average entry 1283 & 1277
SL 1260 Conservative SL
Target 1 1310
Target 2 1323
Reward min 30
Reward max 43
risk 20
ROR1min 1.5 At first part book level
ROR2max 2.2 At last target
Patterns
Educational 19: Triangle Pattern Formations (Watch-list)It is been observed that some of the charts are forming a symmetrical triangle on the daily chart which can provide good returns in coming days.
On verge of Breakout:
1. Hindpetro
2. South Indian Bank
Successful Breakout:
1. Hexaware
2. SRF
Regards
Educational 17: Rising Three Method- Bullish Candlestick PatternRising Three Method - Bullish Continuation Pattern
A bullish continuation candlestick pattern that is used to predict the continuation of the current uptrend. This pattern is formed when the candlesticks meet the following characteristics:
1. The first candle in the pattern is a long White/Green candlestick within a defined uptrend.
2. A series of descending small-bodied candlesticks that trade within the range of the first candlestick. Three inside bodies also counted as consolidation period before continuation of the uptrend.
3. A long White/Green candlestick creates a new high, which indicates that buyers are back in control of the direction and the trend shall resume and go further up.
I encourage you to find a chart with this pattern and share your experience to bring confidence and clarity to other traders on this pattern.
I appreciate your support,
Regards