 "The stock of M&M Financial Services has provided a breakdown from a rising channel")
SELL NAUKRI | TARGET: Rs 4,250 | STOP LOSS: Rs 4,600
The stock has formed a bearish engulfing candlestick pattern on the daily chart which is considered as a bearish reversal pattern. The momentum indicator RSI has also reversed from its overbought territory and MACD has provided fresh sell crossover which hints of further weakness in the counter. The stock also witnessed built up of a short position on the derivative front. Based on the above rationale we can expect a fresh weakness in the counter.
SELL M&M FIN | TARGET: Rs 154 | STOP LOSS: Rs 171
The stock has provided
