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

libinbond Pro Updated   
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.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.