Buy Mahindra & Mahindra Ltd For Target Rs.1050 - Monarch Networth Capital
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Mahindra & Mahindra Ltd
Prices went into consolidation since Feb 2021 and complete consolidation looks like “Ascending triangle” pattern marked with A-B-C-D-E. It was descent price and timewise correction which took almost 8 months to complete. Price sustainability above immediate resistance of 853 level on closing basis will trigger further momentum towards 952 - 1050 levels in next 3-4 months.
Recommendation is to Buy above immediate resistance of 853 level keeping Stop loss at 720 level and Target at 952 - 1050 levels.
RECOMMENDATION: BUY CMP:845 SL: 720 TARGET: 1050 TIMEFRAME: 3-4 MONTHS
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