In the analysis of this stock we have noticed the format of two curves from September 2018 to February 2021 and from February 2021 to October 2021.
Until this period, we have a resistance at 956, and we have a huge drop of the stock due to the COVID phase but it was consolidated.
Then from March 2022 we notice a huge bullish trend, so to verify whether this will...
1. Pattern formed is a double top on daily time frame
2. As the pattern has been completed expectancy is that the price would fall even low, hence a sell call
Follow the chart for trades
Mahindra and Mahindra saw remarkable moves in the last few weeks.
800 was the level, that the stock was resisting for many months, last month stock finally broke above and also managed to close above this level.
Currently, it is trading at 827 levels.
Now 800 level would act as good support, if any dips come, currently which looks unlikely, but yea, sustaining...
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.
The stock has given a breakout and can be bought at retracement reversal near 776 - 805 with sl below 725 for tgt 1 : 869 tgt 2 : 928
Try to book on a risk reward of 1:2 and don't wait for the exact targets as market is very uncertain. This post is for educational purpose only.
Disclaimer post: We are not sebi registered analyst, plz do your own analysis before...
the market is trading near a strong support a pullback is expected .For intraday position one can go long above buy line but if you want to keep it safe you can wait until it breaks first target zone
Short Term Cash Buy M&M @642.25-645.25 SL 630.7 TGT 667
Above VWAP and bearish reversal pattern so we expect more upside also followed by MACD cross over.
