Mahindra & Mahindra Financial Services is a finance provider to almost all type of vehicles. Company is backed up Mahindra and Mahindra, one of the largest vehicle manufacturers in India.
This article is aimed at analysing M&M Financial Services stock on the basis of Technical Charts. I will be giving short and medium term analysis of this stock.
On daily chart, stock is in the process of changing its down-trend to up-trend. Since Jan 15, stock was trading with a formation of lower low lower high. Chart is in the process of changing this formation to a new formation of higher high higher low. New higher high higher low cycle is indicating at a new up trend.
Today, 12 April 16 this stock is breaking out of Head & Shoulder pattern on daily chart. This pattern also suggests reversal in the trend. So we can expect stocks to continue with its formation of higher high higher bottom.
On a very short term this stock is now trading near its resistance. The resistance area is at 266-276. Support is near 230. One can still enter into the stock near support, if it comes down.
Monthly chart suggests further up-side to this stock. The target in 3-4 months can be up-to 300-340. So, from 231 to 300 is upside of 29%. And if stock moves up to 340, that's an upside of 47%.
I had picked up this stock in my Portfolio on 17 March 16 at a price of 231. Still holding the stock for higher targets.
Click here to know more about Prime Cash portfolio.
Daily Chart:
This article is aimed at analysing M&M Financial Services stock on the basis of Technical Charts. I will be giving short and medium term analysis of this stock.
On daily chart, stock is in the process of changing its down-trend to up-trend. Since Jan 15, stock was trading with a formation of lower low lower high. Chart is in the process of changing this formation to a new formation of higher high higher low. New higher high higher low cycle is indicating at a new up trend.
Today, 12 April 16 this stock is breaking out of Head & Shoulder pattern on daily chart. This pattern also suggests reversal in the trend. So we can expect stocks to continue with its formation of higher high higher bottom.
On a very short term this stock is now trading near its resistance. The resistance area is at 266-276. Support is near 230. One can still enter into the stock near support, if it comes down.
Monthly chart suggests further up-side to this stock. The target in 3-4 months can be up-to 300-340. So, from 231 to 300 is upside of 29%. And if stock moves up to 340, that's an upside of 47%.
I had picked up this stock in my Portfolio on 17 March 16 at a price of 231. Still holding the stock for higher targets.
Click here to know more about Prime Cash portfolio.
Daily Chart:
Monthly Chart:
Below is snapshot of portfolio
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