Mahindra and Mahindra updatecurrently market is on extreme supply
if market breaks above 3000 we can expect level up to 3200
if else market can take a retracement for strong demand near 2800 or sell will be continued
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⨺ Am not giving any advisory or signals its just my idea for upgrade my knowledge in trading for myself
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Mahindraandmahindrainvestment
Head and shoulder pattern break out in M&M.Mahindra & Mahindra is forming a new ATH and has closed above the neckline of the inverted head and shoulder pattern.
The shock on the weekly time frame has given a nice closing near the ATH and on the daily time frame test the 20 ema after taking a retest from the resistance zone then giving a breakout.
Sector and stock both has closed near the ATH. There is a much chance of carrying on with the break out and hitting 1.618 and 2.618 Fibonacci levels.
Auto sector has also move more than 1.5% which also helps in carrying a bullish trade in this stock.
In the second half of the trading session the stock has consolidated on the higher levels and closed just around it.
3 point confirmation.
1. Break out of Inverted H&S pattern.
2. Retested before giving a breakout.
3. Auto sector also forming ATH.
Target:- 1628, 1700
Stop Loss :- Close below 1575 (hourly candle).
Stock can be bought for the targets. Even swing and positional trades can be carried in the september series.
Wait for the price action near the levels before entering the market.
Mahindra and Mahindra Chart Analysis !!📈 M&M 📉
My Findings :-
1. Breakout from downtrending trenline zone.
2. Higher High and Higher Low Formation.
3. Close Above March 2022 High.
Bias- Long
Target- 901 and 960
SL- 822
RR- 1: 2.5
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
MAhindra & mahindra Trend Analysis MAhindra & mahindra Trend Analysis
1. bull flug pattern formation price movemtum
2. not break trend resistance so chance for down side
3. when break the supply demand zone confirmation of up side big rallly target 1 and 2
3. wait period right now chance accmmulation area after strong buy do not miss it
MAHINDRA & MAHINDRA
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 trading period and use trailing stop below all the wave step by step.