MAHINDRA & MAHINDRA or M&M is breaking out of a 2month cup and handle pattern and sustaining for 2 days above the breakout. It is important it sustains the breakout to move higher. Recent volume and RSI high.
M_M breakingout ascending triangle
finally broken 1600 #resistance
good volume and RSI
trading above all key ema
expecting #target of 1780
educational idea only
1. Chart clearly shows Support and Resistance Zone.
2. It takes two supports and one resistance with confirmation.
3. The confirmation candles is Bearish Engulfing candlesticks.
4. Trend is actually going down.
5. Pure Price Action with naked chart.
6. Stop Loss and Take Profit clearly mentioned in the chart.
The chart is self-explanatory.
upside potential > 10%
TREND ANALYSIS + VOLUME ANALYSIS + ADVANCE CONFIRMATIONS
Disclaimer: This is for educational purposes only. This is not buying or selling recommendations. I am not SEBI registered.
#M_M trading above Resistance of 1453
Next Resistance is at 2202
Support is at 905
Here is previous chart:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your...
M&M Sell below 1363, Target 1349, if breaks 5th June candle low with big volumes then we can see 1318 and 1303. Reason for Trade M pattern formed on Daily Time frame also RSI is looking weak.
Please Note I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
M&M On weekly charts showing Bullish Momentum.
LTP 1260
SL 1150
Target 1 - 1400 {short term}
Target 2 - 1800+
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M&M forming failing three methods most probability of forming a red candle is high.
Entry 1265 SL 1272 Targets 1259,1260,1244,1236 Risk to reward 1:3 to 1:5 if you trail your Stop loss to target(s)
M_M Looks Bearish on Daily timeframe.
M_M has given a fake move upside, where it did not sustain. This has caused a reversal move in M_M, and it can probably take out the Strong Support zone as it has been tested multiple time.
![M_M: [1H] M_M Mahindra &Mahindra SELL](https://s3.tradingview.com/j/jXfRmmGH_mid.png "[1H] M_M Mahindra &Mahindra SELL")
