Mahindra
& Mahindra Ltd on a daily chart stock price is making higher high and
higher low pattern also stock price is trading above the 20 DMA, indicate
positive outlook for the stock price. Technically on chart stock price at Rs. 1185.10
is given the breakout of downward sloping trend line pattern at Rs, 1168 level,
indicate stock price can rally towards previous high swing, which look most
likely.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 1185 for the target of Rs. 1300 levels, with Rs. 1140
stop loss on closing basis.
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