After consolidating in a TRIANGULAR PATTERN M&M has shown a breakout on weekly time frame chart. Once it starts making a higher high and higher low pattern on the daily time frame breaking 792 levels it can give a whooping 22% return.
Levels for trading: Buy if it breaks 792 with a good volume on a daily time frame and sustains above it for the week. S.L. - Closing below the triangular pattern.
AUTO SECTOR has completed the corrective pattern of a-b-c according to the elliot wave theory and can start the impulsive wave on the longer time frame.
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