Elliot wave, Mahindra & Mahindra

M &M is offering a neutral stance, holding below the 61.8% retracement of its latest daily advance at 350 level, also the daily low was @ 312.80. In the Daily chart, the stock has a potential to reach till 377 & 417 odd levels, converging with the 50% retracement of the same rally.

Support levels: 271.35, 265.50, 245.40

Resistance levels: 377.30, 417.90