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Mahindra & Mahindra Ltd BUY TECHNICAL
CMP: ` 1423 (As on 01st Aug 2017)
Buy: ` 1423-1400 PICK
Target Price: ` 1460-1500
Stop-Loss: ` 1380 Mahindra and Mahindra Limited is engaged in
the manufacture of passenger cars, commercial
Mahindra & Mahindra Ltd vehicles and tractors. The company's segments
include Automotive which is engaged in the
5 ARIHANT CAPITAL ยก AUGUST 2017 sale of automobiles, spare parts and related
services; Farm Equipment which is engaged in
the sale tractors, spare parts and related services;
IT Services which includes business consulting
and related support activities; Financial Services
which includes services relating to financing,
leasing and hire purchase of automobiles and
tractors; Steel Trading and Processing which
is engaged in trading and processing of steel;
Infrastructure including operation of commercial
complexes, project management and development;
Hospitality including sale of timeshare; Systech
which consists of automotive components and
other related products and services; Two wheelers
which consists of sale of two wheelers, spare parts
and related services, and Others which includes
logistics, after-market and investments.
Technical Outlook:
On the weekly and daily chart, the stock has given
a consolidation breakout at 1420 levels. Further
both on weekly and daily chart the RSI is gaining
momentum. This suggests upside momentum.
Hence we recommend buying in stock at Rs 1423
or on a decline up to Rs 1400 levels with a stop
loss of Rs 1380 for a target of Rs 1460-1500 levels.
