Mahindra hotels & resorts - REVERSE H&S
setup: LONG based on chart pattern
Buy: Above 220
SL: 196
Target1: 266; Target2 : 300
Investment advice: go with two installments 1st at 220 and 2nd around 200 if it gives a dip
After correcting 30% from the recent top MHRIL has formed a reverse head and shoulder pattern for a possible up-move. Given the momentum in the hotel stocks in last week despite global weakness, it seems MHRIL will also join the bandwagon.
Buy: Above 220
SL: 196
Target1: 266; Target2 : 300
Investment advice: go with two installments 1st at 220 and 2nd around 200 if it gives a dip
After correcting 30% from the recent top MHRIL has formed a reverse head and shoulder pattern for a possible up-move. Given the momentum in the hotel stocks in last week despite global weakness, it seems MHRIL will also join the bandwagon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.