Stock of the day : Buy Mahindra and Mahindra Ltd Target Rs. 1,620 - Religare Broking Ltd
Mahindra and Mahindra Ltd
* M&M has been gradually inching higher from last more than 4 months with noticeable surge in volumes.
* After hitting an all-time high in August, it retraced towards its medium term moving average and now has registered breakout from a intermediate down sloping trendline.
* The recent price action coupled with positive momentum indicates the bullish tone to continue in near future.
* We thus advise creating fresh longs in the mentioned zone.
BUY Mahindra and Mahindra Ltd 3000 CE CMP 1546.85 Range 1543-1548 SL 1508 Target 1620
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