M&M Shares Eye Fresh Highs: SEBI RAs Highlight ₹3,000–₹3,100 Zone As Breakout Window

Mahindra & Mahindra shares are showing strong bullish momentum on technical charts, buoyed by a 22% rise in Q4 profits and robust buying interest.

Mahindra & Mahindra, the flagship arm of the Mahindra Group, gained 4% on Monday following robust fourth-quarter earnings. 

The company reported a 22% YoY rise in net profit to ₹2,437 crore, with revenues at ₹31,353 crore, driven by strong growth in both its automotive and farm equipment divisions.

KaranRaj Sonkusale observes that M&M shares are displaying strong bullish momentum on the weekly charts. 

He identifies support levels in the ₹2,900–2,950 range, with short-term price targets at ₹3,005.10 and ₹3,100. To manage downside risk amid market volatility, he recommends a primary stop-loss at ₹2,800 and an extended stop-loss at ₹2,720.85.

Orchid Research also flagged that M&M is exhibiting notable strength following its recent results, with a surge in buying interest pushing the stock close to the ₹3,000 mark. 

This level is significant because ₹3,000 is a major call writing strike price in the options market, indicating heightened activity and positioning by traders. 

If a short-covering rally or panic occurs at this strike, Orchid Research suggests the stock could see an additional 3–5% upside from current levels.

Financial Sarthis highlights that M&M is currently facing resistance at ₹3,044.

A decisive close above this level would be necessary to trigger further upward movement, with potential targets set at ₹3,100 and ₹3,150, they add. On the downside, immediate support is identified at ₹2,950, which could act as a cushion against short-term declines.

Data on Stocktwits shows that retail sentiment has remained ‘neutral’ on this counter for the last three months.

M&M shares are flat year-to-date (YTD).

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