M&M LTD
Open—3273.20---High---3313.50---Low---3262—Close—3265.40 on
14.8.2025.
Support:3222/3203/3152.80/3130.30/3116.70/3053.60/2955/2932/2886.35/2831.10/2754.15/2736.25/2669.05/2635.60/2625.70/2550/2425.
Resistance:3271/3303/3313.50/3388/3501/3594/3794/4650/6008.
(Bold and underlined figures are most important).
Technically it is on a very strong footing and in the strong long term uptrend and hit a new all-time high of 3313.50 on 14.8.2025, but could not sustain at the upper level and slipped. Please note that moving down as long as it holds the range of 3222.10---3130---3116----3101—3053.60---3007.10(some figure may change) on the closing basis chances of resuming the up-move will be alive, but break & sustain close below 3222 will be an alert sign and break & sustained close below the range of 3130---3116----3101—3053.60 will push it into proper correction mode and can drag it down further and finally break & sustained close below 3007.10 may witness an accelerated fall. Similarly if it moves above 3271 and sustain on the closing basis then the broad upside target could be 3313.50---3388---3501---3594---3794 or more.
It is important to mention here that although the overall chart setup looks good for the continuation of the up-move but the technical indicators are giving mixed signal on the daily, weekly & monthly chart. Therefore it is suggested to be extremely alert & cautious in the long trade.
REMARKS: - In view of the above observation, it is suggested to avoid investment
buying now and can be tried only on sharp decline near critical support points
keeping the long time frame in mind. But since, it is in up-momentum now,
therefore trading bet can be tried on decline near 3222 with a stop loss of
3190 or can buy if it moves above 3271 and sustain on the closing basis with a
stop loss of 3250. Please note that if trading bet goes substantially favorable
then review it for converting half of
your position into investment, else book profit.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. It is for the educational purpose.
Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
Note: Price stated here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.