M&M continue to is bearish journey,touching trend resistance.

5 Nov 2016

Mahindra & Mahindra has continued in bearish mode from last three months, it has touched trend resistance and we may see further downward movement in this stock with a target of 1294.00, traders may go short in this stock with a target of 1293.94 for better entry price wait for stock to move slightly upside, after reaching this level we may see further downside until trend changes with breakout. Alternatively we may see this stock to target 1200.00 if 1293.00 breaks.