Today's BPrime : Mahindra &MahindraI hope we know the rules how to play, else refer Tatasteel & India Cements post.
Happy Trading !
Mahindra
Cup and handle with retesting support lineCup and Handle formation. Also it tested its support line. Will continue its upward journey from hereon.
Mahindra & Mahindra Flag Breakout It is been observed on the daily chart that the price action firstly forms a double bottom at 1140 levels and then went up and breaks above the previous resistance of 1215 levels. Then it consolidates in a downward channel or flag formation and now it has broken and closed above the channel/flag indicating further bullish move ahead.
Target: 1250
Stoploss: 1200
Kotak mahindra bank ltd :- Neutral stance as of now, as the move currently not confirm as the c wave is not confirm as it can go more south until 161% retracement.
:- but if it breaks to the upside it may form a new leg of the move.
:- risky trade( short when close below 100MA book profit at 161.80%) (long when break the trend line to the upside)
:- and yes it is also holding middle support level of the Pitchfork
TRADE CAREFULLY
Regards
Mahindra & Mahindra Breaks out of Consolidation Mahindra breaks out of a good consolidated range on hourly. Looking forward for a close above 1488 to confirm a daily breakout of the range.
Mahindra M&M : Rectangular Range Breakout I'm not sure why, we are getting back to back breakout trades today morning, sharing few of those with you. Yet to check Nifty chart, may be we will have breakout there also.We can see from chart how long M_M is within that rectangular range and looking for breakout. It will be positional trade, so breakout also takes time if M_M moves to upside on pullback.We can't confirm solely based on RSI also, so wait for breakout in M_M. Some may consider it as bullish flag ( I do agree) but naming it rectangular pattern does no harm. Name isn't important, just the breakout side is important for us !
Hit Like button to keep me motivated to post more ideas...Thanks for your support !
Happy Trading !!
