Max Financial can be sold at current market price 434 target of 427 Which is 52 week low .
It is trying to test 52 week low. can initiate position for short time with strict Stop loss of 443
The stock has formed a parallel channel which got broken decisively now it is retesting it from above giving another opportunity to buy it. Stop Loss the low of today's bar target 625 offers good risk to reward trade.
Max Financial has been consolidating since June 2017.
Yesterday it saw a breakout with decent volumes.
Expansion in volatility can drive the stock higher.
Go long with a SL at 601 & look for targets of 643 / 673.
Rest, the chart is self explanatory.
All plotted & mentioned on chart (Including Entry / TARGET / SL etc)
For future levels on Query.
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Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Have not follow time-line all the time, Sorry in Advance if view...
MFSL: @ 537.05
Traded in Lower Band of BULLISH Channel.
Hit a LOW @ 532.95, 0.886 Fib retracement.
LONG @ 520 - @ 529.6.
TGT: @ 549.6, @ 562, @ 578+
more plotted in Chart.
SL: 513- (by closing).
Hi All ,
Once upon a time :
Someone senior I know took position in Max Financial Services Futures around 570 . After the market closed there was announcement a bulk deal will happen next day at price of 510.
Can you imagine the trap ? Next day it opened around 515 around which bulk deal happened , The stock rose up till 530 that day and started...
