Long Mahindra Finance @151| May Break the trendline resistance|

The stock has closed just above its SUPPORT ZONE OF 148-151. History - This ZONE had acted as a SUPPORT for long time.
Possible Reversal can be seen.

1. At strong Support zone
2. Retracement done from high to low (61.8 fib level)
3. Consolidation going from few days (possible breakout)
4. RSI divergence in smaller time frames.
5. MACD about to give crossover*
5. Decent delivery percentage (around 26% on 14/05/2021)

Buy @cmp for a near term TARGET OF 175-180 (OR 50-DAY EMA)

SL - 146

FAVOURABLE RISK TO REWARD = 1:5 (for Target->175)

Feel free to share your feedback and queries.

Комментарий:

Breakout....lets see if it can sustain

Сделка активна:

Slowly and steadily the price is somewhat increasing :)
closing above 158 today can give a big momentum tomorrow

Комментарий:

Great Buying seen today. We are in 4% profit now :) hold it positionally for long term or sell near 50 day ema :)

Комментарий:

I repeat that closing above 158 can give big momentum

Комментарий:

4.3 % up today :)

1) Closing above 10 day EMA placed around 157 (good indication)
2) Great Volumes today ( around 2cr 15 lakhs)
3) Facing resistance at 20 day EMA placed around 161.50
4) Shift SL to 154

Комментарий:

Today's update : selling pressure due to "friday factor"

with volume fall.... supported by buying at the support level(which was the resistance before) . Tested its breakout level today. Hope to see a +ve movement on monday.

Комментарий:

Shift SL to 158

Комментарий:

Trail your SL now :)

Комментарий:

closing above 20 EMA is a good sign. next target is 50 EMA placed around 172.
Apply strict SL to minimize your losses.
Happy trading :)

Комментарий:

A rounding bottom can be seen in 1D timeframe. Breakout above 165 with good volumes will give a good move. Hold tightly.

Комментарий:

May be accumulation is going on.... but don't know why this fall 3% today. SL not triggered as of now.

I will not sell at 158... hold if you can

- 1:40 pm (25-05-2021)

Комментарий:

All the negative sentiments absorbed today.

Комментарий:

Facing heavy resistance at 165. A good move can be seen after it is broken with good volumes but I prefer booking profits near 165 as market can anytime fall from here. Fall would not be very large but we can expect a 200-300 point correction from here.

NOTE : It is only my view

Комментарий:

I have exited my positions around 165.75 as no momentum can be seen after 165.
Trade according to your risk reward.
Exited also due to risk reward. There is huge chances of market falling 200-300 points anytime. So trade accordingly.

Сделка закрыта: достигнута тейк-профит цена:

50 EMA target achieved.

do vote up if you liked my analysis