M_M trade ideas
Mahindra ranging in Symmetrical Triangle of Wave 4It is correcting Wave 4 of Wave C in a consolidated triangle pattern, which is a continuation pattern. The break shall take the prices down to complete Wave 5. Kindly find the below attached chart to look for targets.
M&M updateIf the lower trendline of the longer-term channel is broken, then the count would need to be reassessed. Otherwise an up move from the LTL is possible.
Long M&MM&M is in an up trend and seems to have a completed a Flat correction today. A close above the upper trendline would confirm the start of the new impulse up.
Bullish Flag Pattern : Mahindra&MahindraHi Guys,
As you can see from above post, M_M is forming bullish flag formation with very lengthy flag pole on bullish move, so once the breakout happens we can expect market to move up. Incase, the breakout didn't happen on upper side and M_M moves downside continuously this trade is invalid bcos price may reach 1400 easily.
So take this trade only on bullish breakout after confirmation. as Nifty is also in bullish momentum we can expect stocks also to get in direction of Nifty and with these pattern formations we get more confidence in the trades we take.
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Happy Trading !
