Accumulate Mahindra Logistics, target Rs 655: Shitij Gandhi

Traders can accumulate the stock in a range of Rs 590-600 for the upside target of Rs 655 and a stop loss below Rs 555, says Shitij Gandhi of SMC Global Securities.

SMC Global Securities

Mahindra Logistics has been forming a lower high on the daily charts and seen consolidating in a broader range of Rs 640-560 with captivating multiple support at its 100-days exponential moving average before witnessing a fresh breakout this week.

The stock has given a break above its falling trend line of the sloping channel along with marginally higher volumes.

Traders can accumulate the stock in a range of Rs 590-600 for the upside target of Rs 655 and a stop loss below Rs 555.

Disclaimer: The author is a Senior Research Analyst, SMC Global Securities Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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