Investors with a medium-term perspective can buy the stock of Mahindra & Mahindra Financial Services at current levels. Sky-rocketing 16.2 per cent last week accompanied by good volumes, the stock had decisively breached a key resistance at ₹190 in the past week. This rally has underpinned the intermediate-term uptrend that has been in place since the stock took support at ₹76 in May 2020. A key support at ₹120 had limited the downside in late October and the stock subsequently continued to trend upwards. It has been in a medium-term uptrend since then. The on-going up-move has helped conclusively breach the 21- and 50-day moving averages in last week and the stock trades well above them. Moreover, the daily and weekly relative strength indices are featuring in the bullish zone backing the uptrend. Besides, the daily and the weekly price rate of change indicators are hovering in the positive terrain implying buying interest. Overall, the medium-term outlook is bullish. Targets are ₹225 and ₹240 with a minor pause at ₹225. Traders can buy with a stop-loss at ₹186. (Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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