JMFINANCIL trade ideas
A clear move towards 160Jm Financial has formed a diamond bottom pattern which in itself is a very niche pattern. After breakout it has again tested the support. Clear move towards 160. same pattern was formed in motilal(target achieved) , bengal assam ( target achieved) and birla corp( target achieved). Also earnings were very strong this quater. Just buy
JM Financial - 3yr Classic Diamond Pattern Breakout RetestBUY GUIDANCE:
Never buy before 3PM (I have been burnt over and over). Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.
JM Financial Bullish BiasWeekly TF looks like its retesting the breakout levels
taking support at 21 Day EMA
Retesting happening at lower volume levels
Offering great entry set up for swing long position
On Daily TF the stock has some great volume build up and looks like its poised for an upmove from here
And erstwhile resistance zone is acting as Support zone for the stock
Pullbacks has happened at a very lower volumes
We are also able to see Divergence on the Daily TF where Price is moving Higher High whereas RSI is making a lower low
With all the confluence we observe that the stock is bullish in nature and giving a great entry set up with a Stop loss of 87/86s levels we should aim for Swing Target 1of 120s levels
3 reasons to buy JM financial1) Inverse Head and shoulder pattern
2) Breakout-retest-continuation pattern.
3) Good fundamentals.
Can be bought for a target of 114. CMP is 101. SL will be 96 on a closing basis. HIT the like button if you liked my analysis and do FOLLOW for regular swing trading ideas.
JM FInance: A good quaterly results.Luckily giving time to enterJM Finance has given good quaterly results. Luckily stock is giving time to enter for a good 15-20% return in a short time. 30 mins time frame can be used to enter with a small stop loss if it breaks down the triangle pattern. Also, it has a good support at 101.