Target: Rs 3,225
Stop loss: Rs 3,027
Mahindra & Mahindra (M&M) is currently forming a Flag & Pole chart pattern on the daily timeframe, signaling the potential for a continuation of the prevailing uptrend. In the latest session, the stock closed with a strong bullish candlestick, accompanied by volume above the 20-day average, highlighting active buying interest. Technically, the stock is trading above its 20, 50, 100, and 200-day EMAs, reinforcing the strength of the ongoing bullish trend. Additionally, the Relative Strength Index (RSI) is at 60.08 and trending upward, indicating improving bullish momentum and a positive outlook in the near term.
(Drumil Vithlani, Technical Research Analyst at Bonanza)
