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Trading Strategies in Mc-Dowell, Mahindra & Mahindra by Mehul Kothari

According to the technical analyst from Anand Rathi, McDowell could rise to Rs 920, whereas Mahindra & Mahindra can slip to Rs 1,220.

Topics
Buzzing stocks | Market trends | Mahindra & Mahindra

Mehul Kothari  |  Mumbai 



Buy, Sell, markets, stocks, shares, investments, mutual funds, investors

BUY

McDowell-N

Buy Above: Rs 860

Target: Rs 920

Stop Loss: Rs 830

Since the past few trading sessions, the stock has been making several attempts to clear the resistance of 200-day SMA.

At this point in time, it is on the verge of a falling trend line breakout. The weekly ADX (14) indictor suggests fresh momentum once the stock confirms this breakout. Thus, we advise traders to buy the stock above Rs 860 for a target of Rs 920 in the coming sessions.

SELL

Mahindra & Mahindra

Sell Near: Rs 1,300

Target: Rs 1,220

Stop Loss: Rs 1,340

Recently, the stock confirmed a major rising trend line breakdown on the daily scale. This breakout was then followed by a pullback. The pattern is still intact and the momentum oscillators are negatively placed.

Thus, we advise traders to sell the stock near Rs 1,300 for a target of Rs 1,220 in the coming sessions.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).


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First Published: Tue, September 20 2022. 08:06 IST

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