That's true..down 2% doesn't mean it can not go down further. But the conditions are that: It should be in a strong downtrend on a higher time frame; and we should have proper tools and system to manage our trade.
M&M has been in a strong downtrend on Daily, 4H and H. So I thought it could be nice short. But by the time I could open my lappy, stock was already ...
I am looking a up coming Possible trade set up
Price is making lower low and not showing further any weakness , at once it can fell down and visit this Zone for reversal
I will look for strong reversal to Go long with stop below the candle i buy
for 100 Points target form this Zone
Regards
as we can see a perfect bullish bat is formed we are on look out for a green candles.. with the news of collabration with ford and also a successful testing of driverless tractor tech a long can be initiated after 2 consecutive green candles with 2 candle breaching the highs of first candle. a trade can be initiated with the 2 target on the basis of fibs..
The stock is making lower highs and lower lows indicating a bearish trend. The stock has reached support point at 1280 and it has tried to retrace 23% but failed. In coming days if the stock doesnt hold 1280 on closing basis one can initiate a short position as per the trade set up.
If it breaches 23% at 1320 one can long it for target of 1340 1470 1390.
Making money from Options Premium
1220 PE at 2.75
1400 at 2
Max profit 2375 if M&M expires between 1220 - 1400
please consult your financial advisor before executing trade
M_M Mahindra & Mahindra is in ultimate buy zone.
Target is open as E-Vehicles play a major role in growth and the company is already having experience with them.
Invest for the long term with the SL as break of Red trendline on weekly close basis.
Expecting bounce back near 13/9/2017 from 1276 harmonic PRZ. Upside targets could be 1330; 1340 or near 1347.
I ll look for buying patterns in the PRZ zone. But even if PRZ is breached on downside, I would look for buying opportunity on the said date (for experimental purposes).
However, 22/9/2017 would be a warning day as from this day the price action may ...
M&M is moving in a slow up channel making a few patterns on the way.
Green Gartley is complete.
Blue bat is on its C to D leg completion. ALso the Yellow CYpher.
Since this is Daily time frame , it will take alteast one million years to complete :P
...... Detailed mentioned on Chart.
Go LONG: @ 1345 (LTP at 12.08 pm 31/08/2017)
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Interesting to see that the channel is broken.
Much more interesting to see that, the stock ll be taken up till the 31st august. till 1405/1410 towards the resistance zone
and the stock will react to the "auto sales figures" on the start of the september...
a possible downside till 1355/1360 is seen.
Disclaimer: Just plain logic.. Lets see if it works out...
M&M is moving in a parallel channel and now it's available at the lower band with bounce from 100 MA.
Invest for mid term with targets of upper band with stop loss of close below 100 MA.
If you're a long term investor, keep accumulating at the lower band/100 MA levels
