Max Financials Services Ltd. (MFSL) started falling since July last year after hitting ATH of 1148 and it kept falling till Dec 22. Now this year it started going up and gave a break-out which is clearly visible in chart.
Now, what to do? Can we enter long in this? I would say wait and watch. Either let it give a break-out from level of 861 and then we can enter or let it come down and we can accumulate this stock anywhere between the price of 750-775. 671 is its all time support. The view is positional, so trade accordingly. Happy Trading 😊😊👍
The movement in stock MFSL is as per our expectation. It hit the resistance of 861 and fell down. Now its near to our buying zone. We can go for a buy if it gives a good candle closing above resistance line. We can go for a fresh buy only if price goes above 770 with a good pattern.