libinbond

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

Long
NSE:M_M   MAHINDRA &MAHINDRA
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.

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