MFSL trade ideas
MFSL Intraday Trade There was a breakout on daily with large volumes at 551 and the price went up till 560 and resisted back on the back of resistance on weekly charts at 560.
I entered when it retested the breakout at 552 with a SL 544 (low of breakout candle in 15 minute TF).
The price further went down and touched 546 and quickly moved towards 560 where knowing the resistance I booked once at 558, waiting for a breakout of 560 with volumes.
It did happen soon and I went long again at 562 with a SL of 553 (Low of Breakout Candle). The price moved don till 556 and then moved again towards 570 where I trailed and stopped out at 568 thereby making 16 points on a trade following Price action with defined stoploss.
Max Fin Services_Long call for target of 610Date: 17 June 2020
Max Financial Services (CMP 490.15)
Chart Pattern: Ascending Triangle Pattern.
Stock has to go up and close above 500 level for 4-5 trading sessions for strong confirmation. Company is virtually debt free.
T1: 540, T2: 567, T3: 610; SL: 450
Target date: 03 Sep 2020