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MTF Stock Pick  Buy Mahindra Logistics Ltd  For Target Rs. 625 - HDFC Securities 

TECHNICAL OBSERVATIONS

The stock price was moving in a larger consolidation pattern as per weekly timeframe chart and is now making an attempt to stage upside breakout of the range at Rs 275-280 levels.

Further upmove from here could also be considered as an upside breakout of triangle type pattern and that could open a sharp upside potential for the stock price.

We observe bullish chart pattern like higher highs and higher lows as per weekly chart and the post consolidation upside breakout has been furious in past.

Weekly 14 period RSI has turned up from near 62 levels and this could be considered as strengthening of upside momentum for the stock price.

The overall chart pattern of MAHLOG indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Mahindra Logistics Ltd Up to 3 months  @ Add on dips 530 CMP 564.90 TGT 625 SL 515

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