August 19, 2015
M&M Fin (NSE Cash)
BUY
` 255.50
` 265 - 263
` 282
5-10 sessions
256
260
272
282
Bullish
A probable
breakout area
Consolidation near strong
support zone
Source: Falcon (Chart time - IST 11:20)
From last few trading sessions, the stock is consolidating around the 61.80% retracement
levels of the recent up move from `231.89 to `294.30.
Today, the stock is on the verge of giving a breakout from the recent congestion zone on
the upside, which coincides with the ’89 EMA’ in the daily chart.
The ‘RSI - smoothened’ oscillator has given a positive crossover with its average and
gradually inching upwards.
Considering the current chart structure, we advise traders to buy this stock from current level
to a decline up to ` 263 for a target of ` 282 in coming 5 to 10 trading sessions. The stop loss
for this trade set up can be kept at ` 255.50.
August 19, 2015
M&M Fin (NSE Cash)
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