M&M may dip 10% if fails to overcome Rs 1,500; RBL Bank may jump 15%

Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.

Shares of Mahindra & Mahindra plunged 6 per cent on Thursday, while RBL Bank rallied 3 per cent post the former purchased a stake in the latter on July 26. Mahindra & Mahindra bought 3.53 per cent stake in RBL Bank at a cost of 417 crore and aspires to buy more following necessary regularity terms. 

So far this year, M&M has gained merely 2 per cent, while RBL Bank has soared 35 per cent. While M&M has hit a new historic peak, RBL Bank is yet to claim its new territory. 

Here’s the technical outlook of these two entities