M_M reported a combined net profit of Rs 163 crore for the quarter ended March (Q4 FY21). As per Technicals, The stock seems to be stalling at 0.5 Fib resistance. Once it breaks out from the resistance, 900+ can be anticipated. Furthermore, a bearish harmonic pattern stands in the way which might hinder the Up-trend.
Besides Rs 163 crore of profits, there was a write-off of Rs 849 crores.
Price can revert because of this.
GurleenKaur
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@shashwat_ag, Yes, I've mentioned the the same in the chart as per technicals as well. It Is currently at fib 0.5 resistance. If it breaks the resistance the next level to look for any reversal shall be the bold black line :)
shashwat_ag
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@GurleenKaur, Yeah. Hope it breaks the resistance. I am still holding. :)
Price can revert because of this.