M&M (NSE) - A New trend with pennant
M&M has made new Higher highs and Higher Lows (Marked in Arrows), indicating that a New Up trend is established.
We also see an Ascending Triangle Pattern, which is a continuation pattern, that indicates a resumption of the underlying Up-trend.
The price is Currently stuck at a Round number Resistance @ 600, breaking out of which would create a Strong move in upward direction.
On the downside, 560 is the Key Level breaking of which would indicate a weakness of this newly built Buying trend.
We also see an Ascending Triangle Pattern, which is a continuation pattern, that indicates a resumption of the underlying Up-trend.
The price is Currently stuck at a Round number Resistance @ 600, breaking out of which would create a Strong move in upward direction.
On the downside, 560 is the Key Level breaking of which would indicate a weakness of this newly built Buying trend.
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