Possible BARR (Bump and Run Reversal) in Mahindra and Mahindra
Lead-in phase angle is around 30 degrees (approximate visual), and the highest high to the lead-in TL is Rs. 35. Bump phase angle is around 1.5 times with respect to lead in phase. Highest high of the bump to the lead-in TL is Rs. 103 which is more then double the highest high to the lead-in TL. Here, due to speculation etc prices tend to move up with higher volumes. When that ends, prices come down slowly with low volumes. When lead-in trend line is taken down, volumes slowly increase due to increase in supply at higher levels. Run Phase will start when lead-in trend line is broken convincingly.
0 comments:
Post a Comment