Trading strategies for M&M, Info Edge and Tata Motors by Ajit Mishra

Tata Motors has formed a fresh shorting pivot and is likely to resume the corrective phase.

Mahindra & Mahindra Limited (M&M)

Recommendation: Buy

Last Close: Rs 786.30

Initiation range: Rs 775-782

Target: Rs 810

Stop loss: Rs 764

We’re seeing a mixed trend within the auto basket and M&M is set for a short-term reversal. It has been trading in a declining wedge (bullish) pattern for the last six months and is on the verge of a breakout from the same. We thus advise creating longs in the mentioned zone.

Info Edge (India) Limited (Naukri)

Recommendation: Buy

Last Close: Rs 5,462.60

Initiation range: Rs 5,420-5,450

Target: Rs 5,600

Stop loss: Rs 5,380

Naukri (Info Edge) has been trading in a broader consolidation range of Rs 4,200-5,600 for the last