Moneycontrol
Oct 18, 2013 02:04 PM IST | Source: CNBC-TV18

Go long on M&M, may test Rs 925-935: Aditya Agarwal

Aditya Agarwal of Way2Wealth recommends going long on Mahindra and Mahindra (M&M) as the stock may test Rs 925-935 in the next few days.


Aditya Agarwal of Way2Wealth told CNBC-TV18, "We would go long in Futures in Mahindra and Mahindra (M&M). The stock was stuck in a range for the last couple of trading sessions. It faced very strong resistance at Rs 885-886 and from those levels only we were seeing some selling pressure in M&M."


"Today the stock has broken that range and we are seeing some short covering in M&M, so on higher side we are expecting the stock may test Rs 925-930 levels in the next few days. In Mahindra and Mahindra one can go long in Futures only keeping a stoploss of Rs 865 and on higher side one can expect a target of Rs 925 to Rs 935 in the next few days," he said.

Disclosure: The stock which we have discussed, we have already recommended to our clients so they may be having some positions but personally I do not hold any position.

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