Descending Triangle Pattern in M_M breakout can give 955+ Target
In Mahindra & MAHINDRA(M_M) on weekly timeframe there have a descending triangle pattern. If this stock gives breakout this pattern above 780 then expected short term target 955+ in this stock. Downside 730-735 is strong support zone so any bearish movement only possible below this level. So, We can go long in this stock with stop loss below 730.
Upside 800 will act as an immediate resistance after breakout. Possible some breakout correction from this level upto the breakout level. Once it started trading above 800 then further target will be 850, 910 and 955+.
Upside 800 will act as an immediate resistance after breakout. Possible some breakout correction from this level upto the breakout level. Once it started trading above 800 then further target will be 850, 910 and 955+.
Komentarz:
850+ @1st target