M&M HOURLY CHART 18 DEC 2019

M&M was trading in a channel for the last 10 trading session but today on 18 Dec 2019 this stock has broken the channel & closed above it. On the daily chart, the stock has risen with higher volume which is a good sign to look at it.

However, if you are a chart reader then you can identify that it has formed a double bottom pattern on an hourly chart although chart patterns are fractal in nature so you can witness this pattern even in 5 min timeframe or daily as well.

Therefore, technically I for sure will look for buying this stock at a dip especially near hourly 20 ema by maintaining stop loss of 512 on a closing basis.

Have a Bull EYE!
Study a chart because it speaks a lot.


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