Short if sustains below 885 for the targets of 850, 830, and more until 911 is intact in the upside.
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From recent trading sessions, Mahindra & Mahindra (M&M) has started falling. It can drop up to the support line or 712 - 700 levels before further advance.
Overall, M&M is strongly bullish. It will start marching for the targets of 760 - 800 soon.
Note: This is for educational purpose only.
There seems to be a bullish breakout with high volume. RSI nearing 80 so wait for pullback to Resistance that might turn to Support zone.
M&M-Mahindra & Mahindra Triangle Pattern
May see the level of Resistance around 624-648
On the downside, support is around 588-575.
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Updated on : 05-NOV-2020 1.30pm
Disclaimer: Only for learning purposes.
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After a strong impulsive move ,price trading in the 30%(zone with out breaking previous swing, the whole structure (psychology) looks Triangle...If breaks 635, expect 650+....Trade Duration may last for 1-3sessions.
We have a Upward Correction forming 1st Leg of Upward Zigzag Wave A is completed now Wave B is a downward flat therefore short trade;
Good Risk: Reward ratio; Entry in proper Supply Zone;
Look For Buy (Positional)
Entry :- 655 to 660
SL :- 634.50 or 627.60
T1 :- 669.80
T2 :- 682.20
T3 :- 702.20
T4 :- 734.60
Keep Your Eyes On Index
(Risk Must Be Managed.)
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