On 14th I had shared an idea that up side move on M&M is about to complete and we may see some downside move in this scrip.
The scrip tried to move up but failed to hold at higher level and now its formed an HnS and can be entered on breakdown.
#Note - The idea is shared for educational purpose and not a trade recommendation, Please trade after consulting your...
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
NSE:M_M
Mahindra & Mahindra facing trend resistance in the monthly time frame, which would be seen as great shorting opportunity for the short period
Chart indication - Sell
Stoploss - 1340
Target - 1230, 1195, 1080
As shown on the chart, an evening star pattern is formed on WTF with good volume.
Targets are as mentioned on the chart.
This is my view and for educational purposes only
Let me know your thoughts in the comments section below
M&M is Trading all time High Between the range of 120 to 1285
The Stock Gives a Breakout from the range and make new all time high close at 1310
If it sustain at this levels we can see further upwords moment in this stock
THREAD ON MAHINDRA & MAHINDRA
We are on the Weekly TF of Mahindra & Mahindra--
We have done the counting since the origin as per Elliott Wave rules.
Wave(1)of 1 completed@ 417/-
Wave(2)of 1 got completed in form of simple correction@312/-
wave (3) of 1 got completed in the form of normal wave 3 & got completed@ 717/-
Wave(4) of 1 got completed as a complex...
Sell if M_M sustains below 1160 for the lower marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Key Reference Points for Mahindra & Mahindra Futures for tomorrow i.e. 7th Aug 2022.
These Reference Points can help one to initiate or exit a trade.
I am not Sebi registered.
This is for education and research purposes.
