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Weeklyresistancebreakout

!!MAHINDRA MOTORS POSITIVE BUILT-UP!!1)MONTHLY CHART -The stock managed to close above its previous crucial resistance zone -we saw a pennant breakout -macd turned positive -rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months -if the stock manages to close above 1478 on monthly basis then we will achieve higher levels MONTHLY TRADEVIEW BUY @1480 STOP @1430 TARGET @1580-1660 ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS 2)WEEKLY CHART -on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016 -rsi has gained strength -macd has shown positive momentum -we saw a symmetric triangle pattern on weekly chart -we saw a symmetric triangle-breakout WEEKLY TRADEVIEW BUY @1478 STOP @1430 TARGET @1530-1550-1580 TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE 3)DAILY CHART -rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone -macd has shown positive crossover DAILY TRADEVIEW BUY @1478 STOP @1450 TARGET @1508
NSE:M_M
by manavtechresearch
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