After a good 8 day rally, M&M is trading at it's resistance after 5th March.
It is currently in the resistance zone and at the top a Bearshing Englufing can be observed.
Given it's 2nd or 3rd Attempt and a Positive sentiment in the market there is a probability of it breaking the resistance. If broken and confirmed a good ~16% upside movement can be expected in the near future.
- If it breaks the resistancean entry at ~489 can be taken (risky trade).
- For someone who doesn't want to take the risk has to wait and confirm (Which may come with a low reward if it makes an rally and doesn't make a pull back to take support.
I'm a beginner and have just started learning,Please help with any suggestions or missed/incorrect analysis.
It is currently in the resistance zone and at the top a Bearshing Englufing can be observed.
Given it's 2nd or 3rd Attempt and a Positive sentiment in the market there is a probability of it breaking the resistance. If broken and confirmed a good ~16% upside movement can be expected in the near future.
- If it breaks the resistancean entry at ~489 can be taken (risky trade).
- For someone who doesn't want to take the risk has to wait and confirm (Which may come with a low reward if it makes an rally and doesn't make a pull back to take support.
I'm a beginner and have just started learning,Please help with any suggestions or missed/incorrect analysis.