M&M - Bullish Descending channel breakout

Friday's big spike in M&M seems to be confirmation of the Descending channel breakout which occurred few days back. However we could see a huge Call Writing at 850 strike prices and open interest has increased by 4x, which could act as Resistance. If breaks 850 decisively, then short term target of 900 is achievable. Company's operating results are strong on the back of significant growth in tractor business.

Disclaimer : Above view is only for educational purpose


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