M&M Financial is forming cup & handle pattern, if price closes above 380 then a nice upside can be seen.
Close above 380 will lead to 415-420. Keep on watch
I am selling #M&MFIN only after it crosses 320 for the target of 300 and 280. SL will be 340. This call will be positional and sell will be triggered after price moves below 320.
MOMENTUM TRADE IN M_M FIN
VIEW
:-CROSSING ITS MAJOR HURDLE OF 361
:-AFTER A VERY LONG TIME NEEDS A CLOSE ABOVE IT
:-LOOKS A TEST OF 200-DMA IS ON THE WAY
:-SWING TRADE IS POSSIBLE WITH A GOOD RISK-TO-REWARD
TRADE IN 28TH NOV FUTURE CONTRACT
BUY @364
STOP @358
TARGET @376-78
LOT:1250
QTY:2
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in...
IT IS TRADING IN A RANGE when it touches upper trendline it comes down and vice versa for lower trendline plus BEARISH DIVERGENCE SEEN AGAIN IN STOCHASTIC TARGET IS LOWER TRENDLINE THAT IS 320 APPROX AND STRICT STOP-LOSS IS EXPONENTIAL MOVING AVERAGE 100 THAT IS CURRENTLY 347.30
NOTE:THIS IS FOR EDUCATIONAL PURPOSE ONLY
In weekly time frame it has formed a bear flag and broken the flag. It has a strong support at 314, this level is tested multiple times and if decisively broken then it should give a nice fall. Option chain looks week till 300 and there is a Option chain support at only 300.
Mahindra & Mahindra Financial Services Limited is a non-banking financial company (NBFC). The Company serves the financing needs of population residing in rural and semi-urban areas of India. The Company provides a range of retail products and services, such as financing vehicles for commercial and personal use, tractors, small and medium enterprise (SME) loans, and various other financial products. Through its housing finance subsidiary, Mahindra Rural Housing Finance Limited (MHRFL), the Company is enabling various low and middle income households to build their own home. The Company also provides mutual fund distribution, fixed deposit schemes and personal loans. The Company's subsidiary, Mahindra Insurance Brokers Limited, is in the business of distributing life and non-life insurance products through tie-ups with various insurance companies. It is a subsidiary of the Indian conglomerate, Mahindra & Mahindra (M&M).
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M_MFIN
