M_MFIN trade ideas
mahindra fin H&S waiting for brek outMahindra fin has formed H&S pattern
waiting for break out
buy above 297
sl 285 closing
target 340
enjoy
Mahindra Fin Long for Day Trade After initial price correction , and rebound I'm looking to enter at 319 with SL 317.50 for Target 322.75/324
IF price fails to Hold 317.50 then Look for downward target of 312.50/309.50
Cheers
M_MFIN - Resistance broken!M_MFIN has broken its long term resistance at the level of 306 - 309 with high volume indicating the strength of the stock. Buy above 318 with the stop loss of 315. Targets are 325, 330 and 336.
Flag Breakout BuyThe stock has nicely formed Flag pattern and gave breakout with increased volume today. One can buy the stock with appropriate stop loss and look for a target in the range of 340 - 350. If we consider the Ascending Channel and its target also, the prices may climb up to 360 so one can continue with trailing stop loss. Wishing all profitable Trade !
M&M Fin - Bearish Wolfe WaveBearish Wolfe Wave formation on daily chart. It may make reverse either from current levels of from 332. Look for selling opportunity on bounce. View will negate above 340.50 And expected target is 270 - 265.
M&M Finance- Can’t stand the Heat-Come out of Fin Kitchen@330Someone has rightly said that if you can't take the heat, get out of the kitchen - which I also truly believe & hope you too.
320-330 is projected channel top -go deep -read the post you will get it!
M & M Finance
Mahindra & Mahindra Finance, the rural India focused lender, surged about 8 percent to a 52-week high – did I say surged- sorry, that was the news on 26th April2016 printed in leading newspapers ended at 297.50 amid above normal rainfall, drop in bad loans & better farm economy could get a lift as few reasons to contribute for the stock to perform well on the exchange.
So, what happened suddenly in Oct2016 why the fin stock erased all the gain which it gained in April last year.
Well fundamentals could be the reason again, but I am still searching for a reason since I entered markets in 2006 & how it can help us to know about the ensuing danger which the stock is going to pass in coming days.
Well, I got the answer to certain extent from 2nd leg of the stool- which is technical analysis & 3legs of the stool are fundamental-technical & Sentiment analysis which is sufficient to hold the stool.
Stool Funda
It’s kind of like standing on a three-legged stool – if one of the legs is weak, the stool will break under your weight and you’ll fall flat on your face. The same holds true in trading. If your analysis on any of the three types of trading is weak and you ignore it, there’s a good chance that it will cause you to lose out on your trade!
Which type of analysis is best for trading- Ahhh, A million dollar question- well there is no end for this so let me jump into the analysis as a technical analyst.
Elliottician’s View
It travelled in impulsive manner from lows@34 in Oct2008 to 356.50 in Dec2013 in fives pink waves completing the blue intermediate wave-1 shown on right hand side with line diagram. It is all fractals which forms even bigger waves. 5 waves to progress & 3 waves to regress is the basis for wave theory & Mahindra finance is a classic example showing the same.
Pink waves- 1-2-3-4-5 chosen as minor waves.
Post 356.50 – it retraced to 173 completing wave-A & rushed upside from 173 to surprise markets -extending its rally to 405 finishing wave-B before collapse in Oct2016.
The fall from 405 has caught bulls on the wrong foot & heading into wave-C which started from 405 to 244 –likely retracing the fall before it slips again.
Channel Trading
Use the parallel channel as the stock is moving exactly in the cage from 244 lows & currently trading@311.65 likely can touch 325-330 & kiss the channel top before it collapse.
Note- please do not predict markets once it touch the channel top –whether it breaks or falls from the channel top- let market do its job- as it is better than an analyst so trade without confirmation- my old funda. “Never trade without confirmation”
Log Scale
Chosing a log scale as stock has risen more than 10 times from it’s bottom.
Daily Chart
Trading Strategy
Scenario -1 Selling on channel top between 325-330 once you get confirmation that channel top is holding the fin stock
Scenario- 2 Selling below mini- bottom@263
Target projections we shall comeback once we see above scenarios unfolding.
Once this regress is done – this stock could be an explosive stock in the years ahead.
Hope, you got to learn new things in the above post & thanks to the user who asked me in Indian chat room for this analysis on Friday-17th March2017.
India Chat Room where you will find passionate traders from our India region- in.tradingview.com
Have a nice weekend.
Regards,
Abhishek H.Singh, CMT
M&M FinanaceHigher Top Higher bottom.. most of NBFC already moved..closed avove 302 after long time. seems its time for M&M Financial.. higher rural demand may insure 356 on chart in coming day
MMFS ready to swing highMMFS was moving sideways for several weeks. Today gave a confirmation that price wants to be move higher. Stop is at 290 for targets 310 and 320.
Inverse Head & Shoulder pattern to Trade!Nicely formed Inverse Head & Shoulder pattern is ready to give breakout. Posting in advance as market seems to have gap up opening and mates can take advantage of it. Those who are following my Action/Reaction learning series can also notice marked AR Set which catches the reversal perfectly.
M_M finance buy set up target 271on daily char mm fin has made out side bar and also this setup is made under big candle
.
this entire setup is below 68% fib level.
buy this stock @253 with sl of 246 closing basis target of 271 then 290
M&M finance buyer reversal on weekly chartM&M fin has formed buyer reversal on weekly chart bull has taken control at 61% retracement ment level.
go for long target 314 on next week. 38% level on fib retracement
wish you happy trading enjoy this trade
M_MFIN shortM_Mfin is giving a short breakout below 275.20 for the downside level upto 271/266 if do not break 278.30 on upside
Mahindra & Mahindra Fin - BullishThere are two levels shown in Blue which are 382 & 406 still pending on weekly time frame,
on daily and hourly time frame 382 again still pending,
15 minute is in correction which is very good opportunity to enter long here and target 380.
Stop Loss
295 is strong support which not going to break before hitting 380 level
But on 15 min 317 would be good Stop loss with target of 380.
