Mahindra & Mahindra Ltd. - WEEKLY

Mahindra & Mahindra Ltd.

The stock has given a bullish breakout from the upward channel.

Technically the main trend is clearly BEARISH but the short term up momentum continues to maintain closing near the weekly high.

As of now, the price has breached 50MA: 505 (50MA) and presently trading on the verge of 522 resistance. Short term breakout supported by volume can add short term more demand to test 540 - 560 - 575 on the higher side. Trading 485 can halt short term up move.

On the lower side 500 - 485 - 440 are the supports.

KEEP AN EYE!!
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***this is my personal view. Please take advice from your financial advisor before investing.