Key Points
Sectorally, buying was seen in telecom, capital goods, realty, consumer durables and industrials while some selling was seen in oil & gas, public sector and energy stocks...
The security found support above the 21-day EMA, and the price is consistently trading above both the 21 (fast moving average) and 50 EMAs (slow moving average) -- indicating a positive trend...
On the directional front, DI+ is above DI-, signaling a positive trend, and ADX is trading above the 20-mark, indicate robust movement strength.. For potential trading strategies, a daily closing support level at 1030 can be considered, with a further resistance target at 1150...
In Mahindra & Mahindra Ltd, a Rising Wedge pattern has taken shape, finding robust support at the lower rising trend line, accompanied by significant buying pressure and increased volume, signaling a noteworthy interest from buyers.. Recently, there has been a breakout from this formation, presenting a bullish outlook for the security...
On the directional front, DI+ is positioned above DI-, affirming a positive trend, while the ADX trading above the 25-mark underscores the strength in the movement, solidifying the positive outlook for Mahindra & Mahindra Ltd...
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