M&M

10 нояб. 2021 г.

M&M, This stock has taken support from lower Bollinger band and 40DEMA in daily time frame.
This stock has given breakout from resistance trendline in daily time frame along with good intensity of volume, also same candle closed above 20DMA.
Wave structure is also suggesting and supporting same view to go long.
Indicators supporting are mentioned below in snap shots.
Overall, one can go long with mentioned stop loss in the chart.

Weekly MACD is positive, uptick and above zero line

Daily MACD is now uptick above zero line and converging towards positive

rsi in weekly is uptick above 60 levels

rsi in daily is uptick above 60 levels

dmi adx is positive ungali setup in weekly

dmi adx is converging towards positive ungali setup in daily

Breakout with good intensity of volume in daily


Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses