Oct 01, 2013 04:42 PM IST | Source: CNBC-TV18

Kunal Bothra bearish on Mahindra and Mahindra

Kunal Bothra of LKP has a bearish stance on Mahindra and Mahindra (M&M).

Kunal Bothra of LKP told CNBC-TV18, "Out of the entire auto pack Mahindra and Mahindra (M&M) looks to be weak on charts because at the two horizons the weekly timeframe as well as the daily timeframe, in terms of the daily charts is trading below the crucial moving averages which is 50 as well as 200.

"In terms of the overall outlook I would probably be bearish on M&M and I would take every rally till Rs 850 or Rs 860 levels to go short on M&M," he said.

Also Read: Manufacturing and exports growth critical for eco: Mahindra

Disclosure: No personal holdings in the stock mentioned but at LKP we recommend the stock to our clients as well.

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