Monday, 9 April 2018

M&M TRADING LEVELS FOR 10 APR 2018


HOLD FOR 2ND TGT 398
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BUY M&M ABOVE 780 TGT 790/800 SL 767
Market summary 09 APRIL 2018:Domestic shares closed higher for a third straight session on Monday as financial stocks rose with global sentiment turning positive amid easing trade war fears. Both indexes marked their highest closing levels since March 14. MidCap was up 0.09% and SmallCap gained 0.32%. Among the sectoral indices on BSE, consumer durables gained most at 1.94% followed by oil and gas 1.57% and energy 1.02%, while IT was down 0.90% and teck fell 0.95%, healthcare 0.2 per cent.. Top five Sensex gainers were Axis Bank, IndusIndBank, M&M, ITC and Asian Paints, while the major losers were Infosys, Bharti Airtel, Tata Motors, TCS and Sun Pharma.
                           Mahindra and Mahindra Limited is engaged in the manufacturing of passenger cars, commercial vehicles and tractors. Primary trend of the m&m  is bullish and after giving
breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 789 ; Overall trend of the stock is bullish. As the stock is managing to trade above its 22& 55 and 200 days moving averages with the RSI of 64, one may expect the targets of 795/800 in the stock if it manages to sustain above the immediate support level of 780. 
DAILY CHART FOR UJJIVAN:


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