Friday, September 30, 2011


In the choppier session of market a stock is near its 52-week high on yesterday. MAHINDRA AND MAHINDRA touched Rs 823.9 an intraday high level which is very near of its 52 week's high level. Fundamentally, stock is very strong, and it has been growing sales turnover year by year. This is the stock of Auto sector. Higher interest rate is the only negative factor for Auto sector and this stock. RBI had increased interest rates recently, which will be put a bad impact on the sales number of company. Due to higher commodity's prices in last few quarters also affects company's margin but now eases in commodities prices will be good for auto companies. MAHINDRA AND MAHINDRA launched its first global SUV vehicles range in very competitive prices. Technically stock is in a strong uptrend, and it has done huge volume breakout on Thursday's session. Stock may buy for the target of Rs 850 with the stop loss of 804 for today.