Mahindra & Mahindra Limited – Techno Funda Report
Mahindra & Mahindra Limited (M&M) or (Mahindra) is the flagship company of the Mahindra Group, which consists of 154 subsidiary companies with diverse business interests across the globe and aggregate revenues of around US $ 17.8 billion. The Automotive and Farm Sectors (AFS) of M&M, continue to leverage ingenuity for creating products and technology led services, which enable its customers and stakeholders to Rise. The company is engaged in the manufacture of passenger cars, commercial vehicles, such as vans, Lorries and over the road tractors for semi-trailers, and tractors. Its two wheelers segment consists of sale of two wheelers and spare parts. It’s others segment consists of logistics, after-market and investments
M&M is trading in consolidation mode from last one month, before this consolidation stock has given a range breakout above 1420 and still sustaining above this level. As of now all oscillator and current chart pattern are indicating that it is set to move higher level. Hence, one can initiate fresh buy position at current level with a stop loss of 1370 (on closing basis) for the target of Rs 1600-1650. Time frame should be 2-3 week.
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