Sharply Rebounded from its Two Years “Multiple Support” Zone
On the weekly chart, the stock has sharply rebounded from its two years “multiple support” zone of 733-730 levels indicating strong come back of bulls
This buying momentum was observed from 20-day SMA and rebounded sharply Mahindra & Mahindra Limited
On the daily chart, the stock has formed higher top and bottom indicating positive trend
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
The above analysis indicate an upside of 860-885 levels.*Holding period is 3 to 4 weeks
This buying momentum was observed from 20-day SMA and rebounded sharply Mahindra & Mahindra Limited
On the daily chart, the stock has formed higher top and bottom indicating positive trend
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
The above analysis indicate an upside of 860-885 levels.*Holding period is 3 to 4 weeks
Comment:
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