Jul 13, 2013, 11.52 AM IST | Source: CNBC-TV18

M&M has target of Rs 875: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Mahindra and Mahindra (M&M) is breaking down from significant support levels, moving lower with a target of Rs 875 and even lower levels are possible.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Almost all auto stocks are now selling opportunities. I am looking at Mahindra and Mahindra (M&M). The stock is now breaking down, it has a very poor chart pattern."

"Charts for M&M is breaking down from significant support levels, moving lower with a target of Rs 875 and even lower is possible. The worst part is M&M is doing this while the broad market is going up. That is fairly bearish," he said.

Also Read: Domestic car sales down 9%; SIAM seeks stimulus package


 

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