M&M continue to is bearish journey,touching trend resistance.Mahindra & Mahindra has continued in bearish mode from last three months, it has touched trend resistance and we may see further downward movement in this stock with a target of 1294.00, traders may go short in this stock with a target of 1293.94 for better entry price wait for stock to move slightly upside, after reaching this level we may see further downside until trend changes with breakout. Alternatively we may see this stock to target 1200.00 if 1293.00 breaks.
Mahindraandmahindra
Mahindra Failing To Make New High, Downside Breakout ConfirmedIt is been observed that the price action is been consolidation with a rectangular price range and it was earlier also observed that the price action breaks upside but could not sustain the uptrend as we didnt get to see a new higher highs and after a while the price action breaks below the consolidation and now it is confirmed as we go to observe a lower low that indicates that the price action shall move to the downside direction.
Target: 1400
Stoploss: 1469