These are compelling reasons to consider a long position on M&M:
* Daily Support Level: When a stock holds at a daily support level, it often signals a buying opportunity as it tends to attract buyers, limiting downside risk.
* Above 200-Day Moving Average: This is a strong indicator of an uptrend. Trading above the 200-day moving average often suggests positive sentiment and longer-term bullishness.
* Relative Strength Against Nifty: Outperforming the broader market, such as Nifty, shows investor confidence in M&M compared to other sectors, suggesting resilience and potential for further upside.
* Nifty Auto on Support: Support in the Nifty Auto index can help support M&M’s price movement since positive sentiment across the sector typically benefits individual auto stocks.
Waiting for confirmation with a CHOCH (Change of Character) on the 1-hour timeframe is a solid approach. Here’s a structured plan based on that:
* Wait for CHOCH on 1-Hour: The CHOCH would confirm a potential shift in market structure, This adds more reliability to the trade setup.
* Entry on Retest / FVG / IFVG:
• Retest: After the CHOCH, a retest of the breakout zone could provide an optimal entry, ensuring the breakout holds.
• Fair Value Gap (FVG): If an FVG appears within this structure, entering here could capture the shift in momentum at a lower-risk point.
• Imbalance Fair Value Gap (IFVG): An entry on an IFVG could further refine your risk-to- reward ratio, especially if market liquidity fills these gaps.
* Daily Support Level: When a stock holds at a daily support level, it often signals a buying opportunity as it tends to attract buyers, limiting downside risk.
* Above 200-Day Moving Average: This is a strong indicator of an uptrend. Trading above the 200-day moving average often suggests positive sentiment and longer-term bullishness.
* Relative Strength Against Nifty: Outperforming the broader market, such as Nifty, shows investor confidence in M&M compared to other sectors, suggesting resilience and potential for further upside.
* Nifty Auto on Support: Support in the Nifty Auto index can help support M&M’s price movement since positive sentiment across the sector typically benefits individual auto stocks.
Waiting for confirmation with a CHOCH (Change of Character) on the 1-hour timeframe is a solid approach. Here’s a structured plan based on that:
* Wait for CHOCH on 1-Hour: The CHOCH would confirm a potential shift in market structure, This adds more reliability to the trade setup.
* Entry on Retest / FVG / IFVG:
• Retest: After the CHOCH, a retest of the breakout zone could provide an optimal entry, ensuring the breakout holds.
• Fair Value Gap (FVG): If an FVG appears within this structure, entering here could capture the shift in momentum at a lower-risk point.
• Imbalance Fair Value Gap (IFVG): An entry on an IFVG could further refine your risk-to- reward ratio, especially if market liquidity fills these gaps.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.