Shares of Mahindra & Mahindra (M&M) jumped over 3% in Wednesday’s session after UBS upgraded the stock to a ‘buy’ rating. M&M emerged as the top performer on the Nifty 50 index, attracting strong investor interest despite UBS revising its target price to ₹3,300 from ₹3,460.
M&M Stock Performance 📈
- Opening Price: ₹2,629.95 (BSE)
- Intraday High: ₹2,707.40
- Support Level: ₹2,550
- Resistance Level: ₹2,750 (200 SMA)
Technical Outlook & Trading Strategy
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, noted that M&M saw a gap-up opening, followed by sustained buying momentum. He advises traders to maintain a positive bias, using dips as buying opportunities, with ₹2,750 as the next key resistance level.
With bullish sentiment building, will M&M sustain its rally? Stay tuned for market updates! 🚀📊
