BUY M_M FOR QUICK GAIN #DOUBLE BOTTOMBUY @ current price, Target are mentioned on chart. It's moved outside the orbit but soon gravity will fix it.
M_M trade ideas
mahindra & mahindrastay cautious, as it breaks 740 levels on down side we may see 550 levels i.e. pattern target of head and shoulder, an dangerous pattern.
mahindra & mahindraMahindra & Mahindra sell trend I
SELL AT CURRENT PRICE
STOPLOSS in Redline Target in
GREENLINE TARGET PRICE STRONG SUPPORT
Mahindra & Mahindra Tech SetupOne of the TV member asked for M&M technical analysis. Here it is.
View: Long
Positives:
1. Prevailing long term trend is bullish.
2. Possible Flag pattern seen.
3. Corrective price action with reducing volume.
Price action of last time when M&M broke above the trendline of polarity, the retracement back to the support was quick with high volume (Marked as 1). Price action of current correction (Marked as 2) is very different from (1). The formation of a flag with reducing volume means the stock has underlying strength.
Negatives:
1. Stochastic Momentum is bearish and yet to signal a reversal.
2. Close to the trendline of polarity, a break below the line will reverse the underlying strength.
Caution:
Notice that M&M is strictly following Nifty in the price action and view would be negated if Nifty breaches its support. Needless to say, this view is strictly educational.
M_M_ a short term long opportunityM&M looks good on chart.. it is trading near a short term trendline and can show retracement. A good RR trade can be done after retracement gets over.
(for educational purpose only)
