Here’s why Mehul Kothari recommends buying M&M Finance, MTAR Technologies
Buy M&M Financial Services
Buy near Rs 186
Target: Rs 198
Stop loss: Rs 181
Recently, the stock confirmed a major breakout above the Rs 190 mark and then rallied towards Rs 210. Then, we witnessed a correction and the stock has retested the breakout. At this juncture the risk reward looks lucrative to go long. Thus, we advise traders to buy the stock near Rs 186 for an upside target of Rs 198 in the coming sessions.
Buy MTAR Technologies
Near Rs 1,300
Target: Rs 1500
Stop loss: Rs 1200
The stock seems to be highly oversold after a correction from Rs 2,500 levels. We are witnessing a double bottom formation near Rs 1,200 mark on the daily chart. The stock also confirmed a breakout from previous swing high and have also formed higher top. Thus, we advise traders to buy the stock near Rs 1,300 for an upside target of Rs 1,500 in the coming weeks.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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