Tech Stars : Buy Mahindra and Mahindra Ltd and Petronet LNG Ltd By Religare Broking
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Mahindra and Mahindra Ltd
Buy Mahindra and Mahindra Ltd @ 1310-1320 CMP 1322.35 Stop Loss 1260 Target 1395
TECHNICAL RATIONALE – We have been seeing a mixed trend within the auto space and M&M looks set to resume the uptrend after spending nearly five months in a consolidation phase. The recent price action combined with surge in volumes in pointing towards a steady up move. We thus recommend creating fresh longs in the mentioned range.
Petronet LNG Ltd
Buy Petronet LNG Ltd @ 217-219 CMP 219.55 Stop Loss 211 Target 230
TECHNICAL RATIONALE – Petronet has been trading with the corrective trend for the last three years however it is more of time-wise correction as it hardly retraced from its record high zone. It has formed a higher base in the recent dip and likely to cross the immediate hurdle at 226 levels soon. Traders can initiate fresh longs in the given range.
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