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M&M Finance is showing high volume breakout on weekly chart. It has given range breakout above Rs 280-285 level, which was its previous week high.
After the MPC outcome, the benchmark indices saw a rush to book profits, that drove the BSE Sensex down 493 points to 71,659, and the Nifty 50 down 137 points to 21,793, forming a bearish candlestick pattern on the daily charts
The long-term outlook of the domestic market is bullish but the market may remain volatile in the short term due to the prevailing headwinds.
Traders are advised to book profits hereon as there could be a sharp corrective move in the coming weeks. On the downside, the immediate support is at 18,060, and a breach of the same might result in further profit-booking.
Cyient has formed long bullish candle on the daily scale with above average volumes, with making higher tops higher bottoms formation for third consecutive session. The stock jumped 4.6 percent to end at record closing high of Rs 1,287.