SENSEX NIFTY
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

Sr Derivative Analyst, Way2Wealth

Expertise : F&O

More about the Expert...

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.

Set email alert for

ADS BY GOOGLE

video of the day

Expect another 10-15% returns till next Budget: Kotak

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.