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.
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