However there are 2 points to be noted:
1.) Next week saturday i.e 18th of July M&M financial would come up with its Q1 numbers, hence the patter may stand invalid depending on numbers. We will have more of a clear view in next week.
2.) In hourly chart there is a big gap waiting to be filled between 233 to 248 which could be taken out if numbers are favourable.
Disclaimer : I am just expressing my view on the chart for understanding purpose. Please take undertake your own study before taking a position in the above stock.