1 week Ago
The up move in Mahindra & Mahindra has gained momentum. The stock has made a bullish breakout on Thursday and has closed on a strong note. The 4 per cent rise on Thursday has taken the share price well above the key resistance level of ₹3,100.
The level of ₹3,100 will now act as a strong support and limit the downside. The moving average indicators also strengthen the bullish case. Mahindra & Mahindra’s share price can rise to ₹3,420 in the next few weeks.
Traders can go long now at ₹3,210. Accumulate on dips at ₹3,140. Keep the stop-loss at ₹3,080.
Trail the stop-loss up to ₹3,240 as soon as the stock goes up to ₹3,280. Move the stop-loss further up to ₹3,290 when the share price touches ₹3,320. Exit the long positions at ₹3,380.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.) Comments.
