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MFSL trade ideas

MFSL (In a very tricky space.)There is a lot of talk about in this stock so I will go point wise. 1- The price is forming a triangle at the very crucial area. 642 zone has not been breached for a while and any breach of the same should give a good momentum upward move. A consolidation below a crucial zone gives us more conviction of a convincing breach and continuation. So purely going by the price action theory a breach of either side should give a good momentum move. 2- In you see the RSI indicator, it has been forming a Lower High on the pointed arrows while if you see the green arrow points on the price it has formed a Higher High / Similar High in the same time period at the same points. This is also known as a Bearish divergence. In case the price is not able to breach the triangle tomorrow then it ideally should continue its downtrend and possibly test 566 levels if it is able to breach the lower trend line. 3- A breach of the upside supported by the breach of the blue line on the RSI will negate the theory of Bearish divergence and might support the move of the price going up. There is a lot to keep in mind in this trade. I have tried to consider every possibility and put it forward. I might be wrong in my analysis but this is the best I know. Trade with Caution.
NSE:MFSL
by vinayak.mohta5
MFSL NSE:MFSL Had shared this chart on 5th Jul and had asked to keep it in watchlist, It has now broken the trendline and taking support at 545, on long side 545 can be support and targets can be 557, 563 and 570 On downside below 545 it can see 534 & 527 ********************************************************************************************************************************************** Hi all, Its pleasure to have you all here. I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side. Few Honest Disclosures: 1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please do your bit of research. 2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all. 3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity. 4. To trade in Cash, options or futures is your sole choice and your own risk 5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results. 6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts. ***********************************************************************************************************************************************
NSE:MFSL
by akkshay11