Mahindra & Mahindra Shares To ₹3,200? SEBI RA Kush Ghodasara Spots Breakout From Downtrend

2025-06-03 05:01:28

(MENAFN- AsiaNet News) Mahindra & Mahindra has broken out of a downward-sloping channel and is showing signs of a potential upside move, according to SEBI-registered analyst Kush Ghodasara.

At the time of writing, Mahindra & Mahindra shares were trading at ₹3,044.80, up 0.62% on the day.

In recent sessions, the stock has moved between ₹3,165 and ₹2,958, but a technical breakout is now underway.

Ghodasara noted that while momentum indicators had previously turned negative, internal bullish crossovers have emerged, suggesting renewed buying interest.

He identified resistance around the ₹3,070 level due to 10- and 15-day moving averages but expects a quick short-covering rally to ₹3,200 if that level is breached.

The analyst recommends a buy at the current market price, with a target of ₹3,200 and a stop-loss at ₹3,000.

On Stocktwits, retail sentiment was 'neutral' amid 'extremely high' message volume.

The stock has declined 1.2% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

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