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Technical Report on M&M by Shyam Advisory.

September 27, 2021

Mahindra & Mahindra Ltd is one of the most diversified automobile company in India with presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers.It also has presence across financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, agri, aerospace, consulting services, defence, energy and industrial equipment through its subsidiaries and group companies.It was incorporated in 1945 by Ghulam Mohammad and two Mahindra Brothers (KC & JC Mahindra) and was later renamed as Mahindra & Mahindra in 1948.

MM - Shyam Advisory
Technical View: M&M chart is forming descending triangle any exit above side can bring positive momentum back in the stock, leading indicator such as RSI and MACD indicating positive signals, Strong Bullish candle formation in daily and weekly chart confirming the trend.
Volume analysis:-Recent increase in monthly Delivery volume by 24.82% and last 5 days average volume increase by 14.44%, good activity indicating positive trend and we recommend “BUY’ signal only above 798 upside target 840 keeping stop loss at 751