M&M 5 MIN CHART

M&M was trading at the lower side for the last couple of days. On the daily chart, it has traded below 20 ema which is not a good sign for the stock in the coming time.

However, yesterday I was watching this stock very closely even I took a short trade but got out with a small profit.in the last session of yesterday's trading, it was taking multiple time support at 505 level which is very crucial for coming trading sessions.

Therefore, as per analysis stock, today open above 505 level & confirmed that today it will rally to the upside although my trade setup also confirmed that go for long today in the first hour especially.
I took long @ 509 & booked profit @ 512.50 with the risk-reward of 1:2.


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