Moneycontrol
Last Updated : Jan 14, 2019 11:22 AM IST | Source: Moneycontrol.com

Buy Mahindra & Mahindra, says Mazhar Mohammad

Positional traders are advised to buy into this counter for a target of Rs 790 and a stop below Rs 710 on a closing basis.

Moneycontrol Contributor @moneycontrolcom
 
 
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Mazhar Mohammad

Mahindra & Mahindra appears to be in a multi-week consolidation mode and moving in a large range of Rs 700-800 levels. Interestingly, after
a recent cut from the highs of Rs 810, this counter appears to be moving in a narrow range of Rs 712-730 with the last six sessions hinting at

a possible short term bottom.

In that case, if it starts rallying, ultimately it should test the upper end of the larger trading range placed around Rs 800.

As the risk-reward ratios will be favourable, positional traders are advised to buy into this counter for a target of Rs 790 and a stop below Rs

710 on a closing basis.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 14, 2019 11:22 am
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