internal_0rgan
Long

Mahindra & Mahindra Positional Idea

NSE:M_M   MAHINDRA &MAHINDRA
M&M is trading near 375 and can go up to 390 or 405/10 levels after a breakout.
Above 380 looks good. NSE:M_M
Trade closed: target reached: Rocketed to 388 after breakout.
Exited at 387.
Captured 8 points in few minutes so will not hold for any longer as markets are very volatile
Comment: It reached the target of 391 but I exited early due to volatility
Comment: Traded it again after it crossed resistance level of 393.80 for targets of 398 and 402.
Trade closed: target reached

Comments

M&M is making double top pattern at 390, so it might come down up to 329 level, please correct if im wrong.
+1 Reply
internal_0rgan RahulPhayde
@RahulPhayde, I don't think so. I look out for double top,double bottom,head and shoulder patterns in higher timeframes ( 45 min, 1hr ) as they prove to be more reliable. Maybe in lower time frame it is making a double top pattern,but in higher time frame i dont see any clear double tops.
Reply
internal_0rgan RahulPhayde
@RahulPhayde, But it can still go down because 390 levels are acting as resistance. If it breaks the resistance then we can expect higher upmove else it might go down
Reply
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