Short Mahindra and Mahindra: Amit Harchekar

Amit Harchekar of A Plus Analytics told CNBC-TV18, "Technically Mahindra and Mahindra has been forming a bearish triangle on the medium-term charts. There has been major short build up which is seen in the zone of Rs 1,248-1,255. The stock is re-testing that bearish zone."

"We are expecting from this level the stock to slide towards level of around Rs 1,180, so keep a stoploss of Rs 1,285 and one can go short in this counter," he added.