3MINDIA trade ideas
Bullish Reversal Candle in 3M India3M India is having good support at level of Rs. 24190, stock is reversing at this level, supported by bullish reversal candle, Bullish Engulfing on previous close. Stock gave closing of Rs. 24733.65, can give upside move up to Rs. 27150 in a month, with stop loss of Rs. 23880.
3M INDIA BREAKOUT 3M INDIA BROKE OUT OF THE TRENDLINE AND THEN TOOK A SHARP UP MOVE BUT THEN IT CAME DOWN TO THE SUPPORT LEVEL OF 34000. AND NOW THE MACD INDICATES A GOOD MOVE ON THE UPSIDE AND ALS0 RSI IS MOVING UP. SO NOW IT IS A GOOD DECISION TO BUY THIS STOCK FOR THE TARGET OF 37000FOR THE SHORT-TERM TRADER AND 38000 FOR THE LONG-TERM TRADER. THE COMPANY IS THE MARKET LEADER IN THE CONSUMER ADHESIVES AND IS HAVING A MONOPOLY IN THIS SEGMENT. SO IT IS AN ADDED ADVANTAGE FOR THE COMPANY AND ALSO ITS INVESTORS.
Concept of Supply/Demand Trendline - 20% opportunity in 3MINDIA👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone, the prices are higher than the bid price, and in the demand zone, they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels ( also most of it depends on your entry and mindset during trading hours )
✣ Risk of 4-5% at the entry-level of 21500 ( approx trade as per the breakout candle ) - entry possible on 1hr and 2hr charts
✣ Targets can be 20% from the buy point ( the top point of the triangle as the target )
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
3M INDIA, Retracement and bouce back of 38% ? After Break Out It gave an up move of 30% which we booked easily and also have shared here just before the BREAKOUT,
now the price has again come for the Re-test of that same trend line, it has high chances of moving up more than 32%.
Entry : 22550
STOP LOSS :21400 (5%)
PROFIT : 31220 (38)
If any doubt feel free to reach.
Thank you.
3M India- 31K possible3M India moving in a triangle ABCD pattern. Breakout on either side can be sharp. Looking at the price action today, looks to move towards 31K+ levels.
Bullish on 3M India3M India had rallied from 19000 to 31000 in February & March and then retraced 50%. It has made a falling wedge or pole & flag pattern and gave a clear breakout which is considered as a sign of trend reversal and beginning of bull run.
A buying position can be initiated with a stop loss below 24000 and target of around 30000.
3M Bullish IdeaThis is only for my education and research. Do your own research. It's breaking a good resistance region.
I will buy here and will exit at 30k.
Thanks,
[Bounce] 3M India Downtrend Breakout BetNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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3M_INDIA : BUY OPTIONits not late to buy 3M india if it takes support from yellow line tomorrow it can still be be bought
Buy 3MIndiaMy idea is for educational purpose
Buy 3MInda @27000 for short term target of 3000+. Sl-26500
Rounding Bottom patternThe stock is making a rounding bottom pattern and looks good above 28810 level
3M India : One more F patternOnly for learning
1) multi-year range-bound move
2) Strong fundamentals
Join us for more: DailyNifty
3M India - pattern within a patternHard retest of the 1st pattern resulted in creation of right shoulder.
Finally broke out of both the Inv H&S patterns.
