MNM as per elliot wave theory is on verge to mature its motive phase and soon the corrective phase might unfold ,which would lead to deep retracement in the ongoing rally for this counter.
Recently counter gave a breakdown from the ascending trend on a structure of parallel channel and now counter have retested the same channel levels.
Bearish divergence on RSI...
Mahindra has broken out of the triangle pattern. looks good for positional traders with low risk and high reward. SL targets are mentioned on the chart.
