MAHINDRA & MAHINDRA LTDUpdated Descending triangle !!!
Stock is forming a descending triangle pattern on weekly chart. Descending triangle pattern is considered as bearish pattern. Once breaking the support, short positions can be initiated. In this case stock has made support at around 735/740 levels. So, one can keep this stock on watch-list and trade can be initiated, once breakdown/breakout happens. If the stock crosses and closes above the trendline, longs can be considered and vice-versa.
Trade active
Stock has given breakout. Hope it makes new high in coming weeks, months.Trade closed manually
Stock has given breakout and one can continue holding for new high in coming weeks, months. 860 and 880 levels would act as resistance.
Disclaimer
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.