#M_M: CMP - 1047
Monthly Breakout - trading at all-time highs.
Price action in alignment on all the timeframes.
Likely to continue the momentum.
Probable Targets: 1100 - 1150, 1300
Immediate support @ 970-990
Daily Chart - Stock is mostly sideways on the daily chart.
Hourly - Stock had lower low, lower high structure, though recently the length of downswings are getting smaller and stock also went above previous high, and it looks like it is started to create a higher high structure.
Hence sustaining 748- 745 levels, it can move towards 800 in the coming week.
Mahindra and Mahindra is consolidating for a long time in a downward wedge pattern. After getting good support and facing good resistance, it has finally boken the resistance with a good volume. If you analyse it on a hourly time frame, you will definitely observe an inverse h&s pattern is broken. The 15mins TF also looks bullish. It's a good swing.
