Mahindra & Mahindra M&M Weekly Chart is showing possible Triple RSI Divergence. RSI bounce from trendline support still pending.
RED, BLUE and GREEN line already described on the chart. Close above blue line in coming session may bring a confirmed pull back...minimum of 10 to 12 % can be expected from CMP 433.95
M&M is in an up trend and seems to have a completed a Flat correction today. A close above the upper trendline would confirm the start of the new impulse up.
Hi Guys, As you can see from above post, M_M is forming bullish flag formation with very lengthy flag pole on bullish move, so once the breakout happens we can expect market to move up. Incase, the breakout didn't happen on upper side and M_M moves downside continuously this trade is invalid bcos price may reach 1400 easily. So take this trade...
For Aggressive traders triangle patterns are like ripe fruit. Here we got descending triangle pattern in M_MFIN Bcos they enter the direction of trade right at breakout and price takes off swiftly in their direction and at times they do employ strategy to increase their profits. For Triangle patterns none can say with 100% confidence that it can breakout in...
In a Downtrend, seeking for a short opportunity and due to that I have marked two red arrows to denote whether the short coming will happen at the current price level or after completion of Gartley pattern. I would suggest to hold your short positions till we get confirmed with the downfall point or price action.