M&M looks to be building up for a medium term move - LONG

All Auto stocks completed a decent pullback from highs and have been consolidating. Gives us a good opportunity to get in when the Risk/Reward is great. SL is quite tight since the stock is already around a support level and breaking lower levels would mean the upmove will not work. Medium term Long call with levels given on chart, SL at close below 770 on a daily basis.




** Important Note - This post is my own study of the mentioned scrip and the views are given with reservation that they may prove to be wrong. I am not a SEBI registered analyst. Please consult your investment advisor before making financial investments.

Comment:

Trade is not yet open. Wait for day close above 785.

Trade active:

Trade active with M&M at 781

Trade closed: stop reached:

Did not sustain short upmove, and closed below 770 on Sep 1. Stopped out.

Comment:

Anyone who re entered once it reached the levels again would have made a killing.