Go long in Mahindra and Mahindra: Aditya Agarwal

Aditya Agarwal of Way2wealth recommends going long in Mahindra and Mahindra with a target of Rs 1230.

Aditya Agarwal of Way2wealth told CNBC-TV18, " Mahindra and Mahindra (M&M) has been in correction from Rs 1,380-1,400 levels but on the lower side Rs 1,100 is a crucial support and from those levels only we saw pullback in the stock. For last two trading sessions we are continuously seeing short covering in M&M. We are expecting that short covering may continue on higher side and the stock may test Rs 1,230 in next 3-4 trading sessions."

"At current level around Rs 1,140 one may go long keeping a stoploss of Rs 1,105 and on higher side targets will be Rs 1,230," he said.

At 14:09 hrs Mahindra and Mahindra was quoting at Rs 1,134.90, up Rs 1.70, or 0.15 percent. It has touched an intraday high of Rs 1,153.75 and an intraday low of Rs 1,132.55.

Disclosure: It will be safe to assume that all the stocks which analyst has discussed, he may have some personal positions and his company may have some positions in the counter.

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