Mahindra & Mahindra Positional Idea

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


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.
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
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out