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The short-term outlook is bullish Mahindra & Mahindra. The stock has been moving up very well since beginning of this week. Importantly, this rise is happening from the 200-Day Moving Average (DMA) support level which is currently at ₹2,930. Support is now in the ₹2,900-₹2,870 region. This support can limit the downside in case of any intermediate dips. Mahindra & Mahindra share price has potential to target ₹3,230-₹3,250 in the next few weeks. Traders can go long now at ₹2,970. Accumulate on dips at ₹2,910. Keep the stop-loss at ₹2,810 initially. Trail the stop-loss up to ₹3,010 as soon as the stock goes up to ₹3,070. Move the stop-loss further up to ₹3,090 when the price touches ₹3,140. Revise the stop-loss up to ₹3,180 when the share price goes up to ₹3,210. Exit the long positions at ₹3,230.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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