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* On the options front, we are seeing Long Build up in most of “Out Of The Money” PE strike price which indicates that traders are creating a long position.
* Moreover, Call option chain is showing Short Buildup in “Out Of The Money” CE Strike price.
* On a daily chart, the stock has given a breakout of its Lower band of “Falling Channel Formation” which indicates down trend in the counter.
* A daily momentum indicator RSI’s reading is at 26.19 level with negative crossover which points out for a negative breath in the counter.
* Based on the above technical structure, we expect a bullish move in M&M 560 PE.
Buy Mahindra & Mahindra Ltd @Options Ran Neeti Stoploss 2.00 Target 15.50 CMP 6.50
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