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Mahindra and Mahindra Technical Opinion or technical analysis show that this stock is in a bearish phase or downtrend. It made 4 bottoms but the double or triple bottom chart pattern failed in the case of Mahindra and Mahindra share. It is trading near its long term and resistance and the next support is near Rs 550.
Before a breakout, in past, Mahindra and Mahindra Technical Analysis show that it was trading in a channel. Now it has again entered the same channel. Therefore, it should take support near the bottom line of the channel.
Currently, the volume or traded value of Mahindra and Mahindra share is very high. On a close look at the delivery percentage, it shows that selling is delivery based. Also, it has broken its trendline of lower lows and is trading below 200-period exponential moving average on a weekly chart.
The option chain analysis suggests that short term trend during the expiry is bullish may be a small bounce after the sharp fall recently.
The overall technical analysis of Mahindra and Mahindra suggests that this stock may continue its bearish or downtrend.
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