currently M_M is consolidating at important zone which you can see also act as a good support in 2015-16 time( you can zoom out the chart ) and it has bounced of many times from the same area in last year . stock is also nearby 200 Ema , A good closing above this will also lead the stock to new highs .
and it has also broken that trendline and retested two times...
A Wolfe Wave has been spotted. A proper reversal at this point can move the stock upside to 780 - 840.
One can wait for reversal sign before taking entry or they can enter now with strict SL of below 725 on closing basis.
Chart & Analysis - ADARSH DEY
Buy above 940(after breakout) and/or accumulate in dips
Targets mentioned in charts
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
M & M seems to be entered in second Elliott wave with Targets 865 - 935 - 1054 in short term.
Risk : Since Covid 19 cases continuously increasing and many states started imposing LOCKDOWNS.. It might turn into negative trend if it breaks support of 740. Next Support : 570-530
Note: This analysis is only for educational purpose.
M&M stock formed a 5 wave advance but as prices go past the high of 895. Then we get an extension. A situation where 5 waves can convert into 9 waves and that means adding 4 more waves to the rally. This means recalibrating the wave count and coming up with Fibonacci extensions to project the size of the extended wave on the upside. That is where M&M is this...
Tata Motors is among the heavy weight stock of Auto Sector. With the downtrend in Auto Sectors due to chip shortage it was also suffering which was visible in the price action. However, since chip shortage news has been priced in and the results season are near so have seen a multi month breakout in tata motors.
Now following questions comes up -
What if I am...
Following a down trend with the lower highs and technically a descending triangle. But given current sentiments may give you a break out. It's gonna be a goh risk trade. Buy above 797... For 850 and 950
SL 740
In Mahindra & MAHINDRA(M_M) on weekly timeframe there have a descending triangle pattern. If this stock gives breakout this pattern above 780 then expected short term target 955+ in this stock. Downside 730-735 is strong support zone so any bearish movement only possible below this level. So, We can go long in this stock with stop loss below 730.
Upside 800 will...
Following long-term consolidation from Feb 21 to Sep 21. On its trendline, M&M stock price has given a breakout.
Stock price has formed a pennant pattern, with support at 734.
The fundamentals of the stock are below average and do not point in one direction.
Breakouts prior to the results of FY21Q2 can be considered positives for bulls.
A sustained price above...
Buy at Market or Buy Stop Order
Target:- 1007
Stop Loss:- 780
Duration:- 9 to 12 Weeks
The stock has already break the resistance line and showing a bullish candle, which is a upside breakout and indication of upside move. It is also a descending triangle pattern. So we can buy this at market order. Use proper stop loss and maintain discipline throughout the...
stock given breakout at both daily and weekly time frame.
its trend line break out.
support mark on the chart if it close below that level on daily closing basis exit.
Forming a flag patter, breakout might happen on upper side, look out for auto index cross 10900.
Stocks to watch out for if we see a bull run in auto stocks :
1) M&M
2) Escorts
3) Bosch
4) Ashok Leyland
I am particularly bullish on M&M.
Disclaimer : Bought M&M at 794
