M_MFIN trade ideas
M&Mfinance...Big Short...M&M finance made a life time high 404.9...There is not a single brokerage or analyst who is bearish on this....Chart clearly shows complete 5 waves (larger degree wave 1)..If the counts are correct, we can expect a good reatracement. According elliot wave guidelinefor wave 2, minimum retracement is 23.6% and maximum can be 88.6%..At the current date there are no known negatives for M&M finance fundamentals...Lets see what unfolds in future...Retracements from 23.6 to 88.6% are there on the chart...Take wise decisions if this trade unfolds as projected there is lot of money to be made...Trade well...
MMFinanceThere is break of rising channel..Suggesting short term weakness towards 300 lvls..There is impulsive decline from 364 to 300 lvls...Currently retracement is going on which looks incomplete...There are two movements possible either we break up from the small channel towards 350 levels...and then come down to test 300...other possibility could be we test the lower trendline of the smaller channel and then break to come down and test 300..If you want to ignore smaller moves...short on rise with SL of 365 tgt 300
M&M finance - Short set upWatch the price action near the rising trendline....Break of the trendline will start of the short term downtrend..TGT 310...
Mahindra Finance : Ready for Breakout Descending TriangleFor Aggressive traders triangle patterns are like ripe fruit.
Here we got descending triangle pattern in M_MFIN
Bcos they enter the direction of trade right at breakout and price takes off swiftly in their direction and at times they do employ strategy to increase their profits.
For Triangle patterns none can say with 100% confidence that it can breakout in particular direction. So the chance of M_MFIN breaking out in any direction is possible.
Happy Trading !
