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Trading calls by Nilesh Jain of Anand Rathi: Sell Info Edge, M&M Financial

The momentum indicators and oscillators have turned negative for M&M Financial Services' shares, where MACD has provided fresh sell crossover on the daily chart

The stock of M&M Financial Services has provided a breakdown from a rising channel

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The stock of Info Edge also witnessed built up of a short position

Nilesh Jain Mumbai

2 min read Last Updated : Dec 22 2020 | 7:21 AM IST

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

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