Bullish Flag breakout in M&M after six months consolidation on monthly chart & on weekly chart as well.
Auto index also gave breakout and looks bullish on daily chart.
Resistance levels to watch is 822, 850.
Bullish candle on daily chart with highest volume since March'21.
It's a Reversal breakout and Volume breakout.
Last 20 days avg delivery is 57.12%
Expecting consolidation zone breakout soon which is at 1845.
Resistance Levels to watch: 1828 and 1845.
Titan is in ascending channel which looks extremely bullish on weekly chart.
Once it breaks this channel downward we can expect a good correction of 15-17% on weekly chart which will bring it to long term support line.
1700 is the neckline of M pattern on weekly chart.
It has taken support at 1700 earlier and also 55 days EMA support at 1700.
It may test 1850 level soon.
Sell volumes are decreasing means sellers are not interested in selling at this level.
Bank Nifty has underperformed Nifty 50. So it may go up in coming weeks.