M&M Finance may move towards Rs 255-257: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "If you look at the last couple of days, we have not seen significant price momentum in most of the housing finance companies. However, Mahindra & Mahindra Financial Services which earlier used to be underperformer, is now taking support and moving up fast with making higher tops, higher bottom formation.""We have seen significant open interest addition and stock managed to close above its 50 day moving average. Recently it has taken support near Rs 227 and managed to close hurdle of Rs 235-240 zone. Now, the support is shifting to higher levels, so we are expecting this positive momentum may continue in the counter. So suggesting to trade with stoploss of Rs 234 for upside target towards Rs 255-257 zones.