M&M with a technical look

By | November 10, 2009

M&M Stock is making a new High and institutional are quiet bullish on it.Looking technically at this stock is taking support at its trend line (Shown as green color in the chart)Stock is an ideal candidate to be bought on dips.

But one point of concern is Negative divergence which is observed in RSI and MACD.But to bring to user note that indicator can remain in negative divergence for a long period of time.

On upside the stock can touch 1150 touching the upper band of trend line,

For tomorrows perspective stock is a buy above 1014 for a tgt of 1037 1067 1090 Support is at 983 961

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