Bearish For Next Few Months Trade With CautionWe are going towards the mid trendline now, so bearish sentiment for several months
3MINDIA trade ideas
3MINDIA Trade Update - 3M took the grab and now it's currently moving up nicely
- I think if you have entered already then it's better to keep holding 3m
- It's better to focus on riding rather than building and doing FOMO after stocks
Amazing breakout on Weekly / Daily Timeframe - 3MINDIACheckout 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 amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN DAILY TIMEFRAME.
3MINDIA | Investment Pick📊 DETAILS
Sector: Diversified
Mkt Cap: 35,425 cr
3M India is a subsidiary of 3M Company, USA. The Company manages its operations in four operating segments: Safety & Industrial , Transportation & Electronics, Health Care and Consumer. In India, the Company has manufacturing facilities at Ahmedabad, Bangalore, Pune and has a R&D Center in Bangalore.(Source : 202003 Annual Report Page No:137)
TTM PE : 66.11 (Low PE)
Sector PE : 52.33
Beta : 0.22
📚 INSIGHTS
MC Insights PRO
Stock with good financial performance alongside good to expensive valuation, but lacks price momentum as suggested by technical indicators
5.42% away from 52 week high
Underperformer - 3M India up by 3.7% v/s NIFTY 50 up by 8.32% in last 1 month
📈 FINANCIALS
Piotroski Score of 8/9 indicates Strong Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
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3M INDIA Ltd, AccumulateLong-term update, Accumulate 3M India ltd (Minnesota Mining & Manufacturing Co.) Buy above 31934.35 (Time for a Breakout)
Sector: Diversified / Industry: Diversified
Market Cap: 39,169.55/- Cr. / Category: Mid Cap
Current Price: 31469/- Target Price: 33200, 35000/- Stop loss: 28500
Ticker: NSE:3M INDIA Recommendation: BUY (Buy Above 31934.35)
Date: 19/12/2023
Elliott Wave Theory Outlook – 3M INDIA ltd, Buy above 31934.35
December 19, 2023 By Dinesh Naidu
3M India is a subsidiary of 3M Company, USA. The Company manages its operations in four operating segments: Safety & Industrial, Transportation & Electronics, Health Care and Consumer. In India, the Company has manufacturing facilities at Ahmedabad, Bangalore, Pune and has a R&D Centre in Bangalore.
Hello traders. In this technical research report we’re going to take a quick look at the Elliott wave chart of 3M India ltd. As our members know, the stock is showing impulsive bullish sequences that are calling for further strength. Our team recommended members to avoid selling, while keep favoring the long side. Currently the stock is in a sideways structure forming a Triangle formation. The stock might give us a Breakout from the current level.
The stock is currently trading in wave ((4)) pattern that has unfolded as Triangle A-B-C-D-E pattern in a Daily time frame. The price might reach extreme zone at 33145 - 35000 level We don’t recommend selling the stock and prefer the long side from the 0.23.6 & 0.38.2 % Fib retracement level. As the intermediate trend is already bullish in a lower time frame, we expect to see at least 1 last wave bounce from our buying zone. Once price bounce reaches 1.618% Fib against the (wave 5) high, we will make long position risk free (put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 28500 level.
High Volume & Delivery
Stock Volume & Delivery surged by 1.5 & 1.6 times respectively vis-à-vis their 5-day average with a 1.46% move in Price.
Disclaimer: I am not a SEBI Registered Research Analyst. The information provided here is for education purpose only. I will not be responsible for any of your Profit/Loss with this recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you or not.
Weekly Breakout Retest A significant retest of the weekly breakout level has happened, showing market interest and confirming the breakout zone's importance. After this, there's been a strong bounce with powerful bullish candles, indicating a comeback in buyer confidence and positive sentiment.
Moreover, the short-term trend line on the daily chart has been broken, suggesting a possible shift in short-term momentum. The combination of the weekly retest and the daily trend line break sets up a strong technical scenario, implying a change in the short-term trend direction.
Traders should closely watch how the market reacts to the retest and subsequent bounce, evaluating the strength of bullish momentum for potential continuation. It's crucial to confirm the breakout with sustained bullish behavior and keep a close eye on key support levels to manage potential downsides.
Given these technical developments, there's a potential opportunity for bullish positions based on the confirmed breakout. Traders may want to consider both short-term and long-term trading strategies to leverage the evolving trend dynamics.
To sum it up, the successful retest of the weekly breakout, along with a strong bounce and the breakage of the short-term trend line on the daily chart, paints a compelling technical picture. Traders are advised to monitor sustained bullish momentum and strategically position themselves based on the evolving trend dynamics.
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BulishVery good mnc, chart looking very strong, highly undervalued,
R:R is very lowest
My stoploss is 25900 only, can you believe that,
My first target is 32000& 40000
NSE 3MINDIA – ELLIOTT WAVE ANALYSISTimeframe: Daily
3M India has given a good move after 100% extension of wave A. Note wave A = B is at 21368.9 . Price entered into the corrective channel, which signals an impending bullish move. 22292 is a pivot level for 3MINDIA.
Wave C is the ending point of the correction, and traders can trade for the following targets: 22564 – 22850 – 23282 . There will be an extension of the target after the breakout of wave (B).
I will update further information soon.
3MINDIA - Breaking 4 yr consolidation - 2X opportunity3MINDIA has been in range since Sep'18- for more than 4 yrs now.
On long term horizon, it is in uptrend since few years now.
It has taken support at weekly 200 EMA.
Recently given trendline breakout.
Volumes are picking up in recent time with good price upwards momentum.
Fundamentally, recent results have been good, post which we may see some price re-rating in this stock.
SL: Daily candle close below 25,000.
Target: 45k then 70k in 1-2 years.
Flag Flag and FlagIt seems stock only knows the flag pattern. On the monthly chart it has formed continuous 3 flag patterns in the past 20 years. Every time before starting a new flag it comes near the trendline. Same thing is happening now. Hence will history repeat itself. Therefore it is important to study the chart.
3M analysis3m is currently forming a kind of a head and shoulder pattern
3M is made a similar pattern last year year during the same time period and gave good profits for shorters
It might repeat the history again.
3MINDIA - Breaking Support Zone3MINDIA is closing below Daily 100 SMA, 200 EMA also breaking down below Support Zone which is the sign of BEARISH Continuation. 22000 is the Next Support which is marked in Chart
3M Head & Shoulder pattern in Daily TFH&S pattern formed after reaching the Weekly supply zone, will test the below marked Demand zone and then move up
3MINDIA bull run waiting3MINDIA bull run waiting
strrong price action pattern
despite market being negative stock has not gone down .
we can expect strong move up side .
buy recommendation.
Train ready to depart from stationAfter perfect inverse head and shoulder. Consolidation of few days.
Now stock is trying to break the range with good volume
3M BUY TRADE - WHITE MARUBOZU3M has taken support at very long term trendline around 17500....and it has reached to level of 23257...we can clearly see ..it is taking resistance with upper range trend-line...when we go to 1d time frame it is taken support at moving average...and made a very bullish engulfing sign...
ENTRY :23257
STOPLOSS : 21883
TARGET : 29954
3M INDIANSE:3MINDIA
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
3M India Technical viewNSE:3MINDIA
Stock is trading at level with lower than average volume from past 2 weeks.
22973 is a major weekly level following it 23260 is another major resistance as price rejection from 2 weeks on level 23260.
Bullish point of view --
1: if we go on DAILY timeframe we can see lower high`s and ascending triangle formation.
2: on WEEKLY chart price breakout on 200 MA with higher volume and following price breakout on 50 MA currently stock is taking support on 50 MA.
3: as my opinion BULLISH ABOVE LEVEL 23260.
I am not a profession or well experienced trader. I am an intermediate level trader.
This analysis is just my practice and only for education and my learning purpose.
Don`t blindly trade on any ideas or tips do your own analysis.
THANKYOU...
3M india inv H&SVery good bottoming out pattern in 3M India.
Likely target 32000 in next year.
SL of 20100 can be considered
status is now buy on dips
3M Positional Trade3 M had completed a good correction now above the accumulation area indicating the completion of consolidation
There is strong momentum & Relative strength visible in the counter
