Mahindra & Mahindra Finance (M&MFIN) has formed a bullish head and shoulder pattern in monthly chart. Last Friday, it tested the neckline after breaking out.
Volumes are missing on breakout so it doesn’t give much confidence. Plus, given the current market conditions, I wouldn’t be surprised if it turns out be a failed pattern since financial sector will remain under pressure due to global macros.
Sharing this pattern only for educational purpose.
