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