Tech Stars : Buy Mahindra and Mahindra Financial Services Limited and Godrej Consumer Products Limited By Religare Broking
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Mahindra and Mahindra Financial Services Limited
Buy Mahindra and Mahindra Financial Services Limited @ 227-229 CMP 229.40 Stop Loss 218 Target 244
TECHNICAL RATIONALE – M&M Finance is among the top performing names in NBFC space. It has retraced marginally of late and retested the support zone of neckline (breakout) area of the triangle pattern. We expect marginal consolidation in near future, followed by resumption of the uptrend.
Godrej Consumer Products Limited
Buy Godrej Consumer Products Limited @ 890-895 CMP 897.55 Stop Loss 828 Target 975
TECHNICAL RATIONALE – Most counters from the FMCG basket are still holding strong and Godrej Consumer is trading in tandem with the trend. It has marginally retraced towards the support zone of major moving averages on the daily chart and likely to see a rebound soon. Participants should utilize this dip to create fresh longs.
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