Technical Analysis of Indian Equities by Nooresh

Larsen and Toubro , Mahindra & Mahindra Charts

Larsen n Toubro

In the last few months there have been 3 bottoms in the range of 660-680. So ideally its a crucial support zone for short term.

The stock did try to breakout but could not move much and got resisted around the upper line.

Holding 660 -680 in a comfortable market mood could bounce to 740-765 in short term wheras a sustained move below 660 could lead a good crack of 10 % or more.


Mahindra and Mahindra

The stock is holding up in current markets ( Petrol rate cut ??? ) . A move beyond 330 could target 345-360 in short term but volume support needed.

Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2556 articles.

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