Yes Bank was in bearish phase from past few months but is recovering from bearish phase and entering in bullish phase and shown the rounding bottom breakout @269
Now we can buy it for long term target that is at 402 within 6 months that will be near to 50% returns from hear. Place Stop loss at 246.
Mahindra & Mahindra is likely to rise tomorrow from 695 that is today's closing. Stock has taken support from 674 and closed at 684 on 5 th February and it is very likely to cross the 1st resistance of 700 if it crosses 700 then stock will be bullish tomorrow. I hope stock will respect rounding bottom pattern and will not breakup in between. If there is a breakup...
1.Ascending triangle breakout done
2.Pattern like a round bottom formed and breakout done.
3.Closing above 514,it may go further upto 523-528 range.
4.All Daily indicators showing bullish signal and Weekly indicators are turning to bullish from bearish.
In monthly, it seems a complete elliott wave cycle is complete, and stock has bottomed out.
in weekly, we can see that, round bottom is forming and fresh impulse already started here.
round bottom pattern tgt
so with a sl - 54, 1st tgt - 95, 2nd tgt - 151, long term tgt - 500.
in monthly, round bottom forming here, neckline at 50-55 zone. breakout will confirm the pattern.
also in monthly, price is sustaining above middle BB, and recently price closed above upper BB and BB is expanding.
sl - 29, 1st tgt - 80, 2nd tgt - 110, long term tgt - 140