Mahindra & Mahindra Shares To ₹3,200? SEBI RA Kush Ghodasara Spots Breakout From Downtrend
Synopsis
An analyst flagged bullish technical crossovers and short-covering potential.
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.
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