--add to watchlist
--BUY after breakout with good volume
--Trendline support
--near term target 1000+
Disclaimer:
- The view expressed here is my personal view
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon...
MFSL
Breaking out of a 12 week consolidation base.
Disclaimer:
For educational purpose only.
Please do your own research before taking any trades.
Happy Trading!
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Max Financial ( 973.65) gave breakout on 14 Aug2023 @ 872 for the TGT of 1095. It again came back to breakout point on 30oct and gave second chance to buy at 869. Eventually it moved up , our bias remain bullish for the TGT of 1025 & 1105 .
In daily timefram after a long rally price consolidate in price range 870 -970. Although it break upper level and sustain near High zone
1000 is minor resistance for rally ..
Anyhow if price go below 905 in near term it could again trade in range and Analysis may no meaningful.
This Analysis suitable for positional trading only ..and holding period atleast 4-5 month.
Formed pole & flag pattern.
Industry and Business: Max Financial Services operates in the life insurance industry, providing various life insurance products and services.
Trading at 936,nearest Resistance is 966,keep SL at 856.
Target
1249
1419
1592
1757
Go Long above 642.8 for Targets of 686.5, 730.2, 773.9, and 817.6 with SL 599.1
Reasons to go Long:
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer...
NSE:MFSL
Company Overview
Max Financial Services Ltd. operates as a holding company. The firm engages in the provision of advisory services. It operates through the following segments: Business Investments and Life Insurance. The Business Investments segment deals with treasury investments. The Life Insurance segment offers private life insurance products...
Prices eroded 48% from its all time high of 1148.
Price has bounced from 61.8% FR level support and Monthly RSI is also resting on its Oversold levels.
Past price behavior suggests that a move to 940 (61.8% FR level resistance) is likely.
Bullish outlook remains valid as long as price sustains 600.
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...
