Mahindra & Mahindra: RSI Divergence
Stock was continuously in uptrend & now in conolidation phase with very less movements.. Significant decline in volumes observed.
Even though Price is in upmove, RSI is in downtrend .. Thus there is a divergence between Price and RSI indicating weakness in the scrip.
A correction is expected till bottom of the rectnagle zone till 585 levels.
If it breaks the bottm support , will cause a breakdown.
Even though Price is in upmove, RSI is in downtrend .. Thus there is a divergence between Price and RSI indicating weakness in the scrip.
A correction is expected till bottom of the rectnagle zone till 585 levels.
If it breaks the bottm support , will cause a breakdown.
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