MAHINDRA & MAHINDRA LIMITED IS FORMING ASCENDING TRIANGLE KIND OF PATTERN ALONG WITH THAT IT HAS ALREADY REACTED 4 TIMES FROM SUPPLY ZONE/RESISTANCE ZONE OF 1280 TO 1305 IN LAST 3 MONTHS.
CAN WE SEE BREAKOUT THIS TIME FOR THIS STOCK...???
TO UNDERSTAND IN BETTER MANNER LETS HAVE LOOK AT ASCENDING TRIANGLE PATTERN ON DAILY CHARTS.
IN ABOVE CHART WE CAN SEE THAT STOCK IS RESISTING NEAR TO 1290 (LEVERAGE OF 10/15 POINTS ON BOTH SIDE) AND THEREAFTER STOCK GETS CORRECTED. DURING LAST TRADING SESSION ALSO SAME THING HAPPENED.
NOW LETS TRY TO SEE VIA DEMAND SUPPLY THEORY ON 240 MINS INTRADAY CHART.
HERE ALSO WE CAN SAY THAT PRICE IS REACTING FROM SUPPLY LEVEL OF 1298 TO 1281.20 WHICH HAPPENED DURING LAST TRADING ALSO...!!!
NOW LETS TRY TO SEE COMBINATION OF BOTH THESE THEORIES ON SINGLE CHART.
NOW IT WILL BE INTERESTING TO SEE WHETHER THIS STOCK CROSSES THIS RESISTANCE/SUPPLY ZONE IN NEXT FEW SESSIONS OR NOT.
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