'Avoid fresh longs in M&M unless its surpasses Rs 600'
Technical analyst, Praveen Kumar of ULJK Securities is of the opinion that one should avoid fresh long positions in M&M unless it surpasses Rs 600 levels.
By ET Bureau |
MUMBAI: Technical analyst, Praveen Kumar of ULJK Securities is of the opinion that one should avoid fresh long positions in M&M unless it surpasses Rs 600 levels.
���M&M can face the resistance around Rs 590 levels. The stock is highly overbought in the day chart. A consolidation pattern is expected on this stock since RSI (Relative Strength Index) overbought. It is advisable to hold on to long position, however fresh long position is not advisable on this counter until it surpass Rs 600 levels,��� he added.
���M&M can face the resistance around Rs 590 levels. The stock is highly overbought in the day chart. A consolidation pattern is expected on this stock since RSI (Relative Strength Index) overbought. It is advisable to hold on to long position, however fresh long position is not advisable on this counter until it surpass Rs 600 levels,��� he added.
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