Devang Shah, Technical Analyst at Angel Broking has recommended trading strategies on how to trade in Mahindra & Mahindra (M&M), Colgate Palmolive and Reliance Industries (RIL). He gave following rationale for technical strategies:

1. Mahindra & Mahindra
View-Bullish
Last Close-Rs 671.8

''On the weekly chart, post a sharp fall since August, 2018 from the levels of 993 the stock prices formed a base on the long-term support around 610 levels. At the current juncture, prices seem to have resumed the primary uptrend with a bullish reversal seen post-consolidation near support. The said reversal is witnessed with a bullish candle, hammer, and above average volume. Stock has taken a support of 10 DEMA to move up. Hence, we recommend buying this stock at current levels for a target of Rs 739' over the next 15-20 sessions. The stop loss should be fixed at Rs 632.''

2. Colgate Palmolive
View-Bullish
Last Close-Rs 1268.5

''This stock has been enjoying its multi-year 'Bull Run' before slipping into a minor correction mode. The said correction got arrested around 38% retracement of recent upmove (1220-1280). Despite the recent corrective move, this stock managed to maintain its 'Higher top higher bottom structure' on a weekly chart. Stock price is above 21 & 200 DMA which suggests bullishness in near future for the stock. Among the momentum oscillators, the MACD Histogram continues to inch higher; indicating continuation of the up move. Thus, we recommend buying this stock at current levels for a target of Rs 1410 over the next 15-20 sessions. The stop loss should be fixed at Rs 1189.''

3.Reliance Industries
View-Bullish
Last Close-Rs. 1270.25

''The stock is trading near all time high, which shows its outperformance in the recent market turbulence. The breakout from the formation of 'Rectangle' channel pattern is observed on hourly chart hence we are witnessing signs of bullish resumption with prices breaking above the recent congestion zone. Talking about major moving indicators like oscillator and averages, they continue to trade in positive territory supporting the bullish stand. Considering all the above setup a strong upside from the current levels cannot be ruled out, Thus, we recommend buying this stock at current levels for a target of Rs 1420 over the next 15-20 sessions. The stop loss should be fixed at Rs 1189.''

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.