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Mahindra and Mahindra Share Buy Sell Hold analysis suggest that Mahindra and Mahindra Share follow the Triangle pattern. It was under a long consolidation phase before giving a breakout. Recently, Mahindra and Mahindra Share tested the lower line of the consolidation channel. It was not able to break the lower line. Between Rs 510 and Rs 540 is a No Trade zone.
The risk-reward ratio is favorable at this moment. The downside is limited to Rs 30 for a target of Rs 80. Mahindra and Mahindra Share also follow the 100-period Exponential Moving Average. This MA was acting as a resistance for this stock. The price-volume analysis suggests that the stock is a near trend reversal. The price is decreasing along with turnover and delivery quantity. The stock may change its trend from bearish to bullish.
The option chain analysis suggests a bullish trend. The call writers are closing their existing position. It implies that call writers are not expecting further down move in Mahindra and Mahindra Share. This stock is outperforming its index i.e. Nifty Auto in the short term and underperforming in the long term. Also, this stock does not have any correlation with the Nifty 50 movement.
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