Mahindra & Mahindra (₹3,461.65)
Approaching a key support
The stock of Mahindra & Mahindra has seen its price decline in the recent weeks. However, it stays above a key support at ₹3,325 and the price action since April shows that the broader trend is bullish. From the current level, the stock might slip further to ₹3,325. However, it is likely to rebound and head towards ₹3,800 in the near-term.
So, traders can buy the stock now at ₹3,461 and accumulate at ₹3,350. Stop-loss can be at ₹3,170. When the price reaches ₹3,625, revise the stop-loss to ₹3,480. On a rally to ₹3,725, tighten the stop-loss further to ₹3,625. Exit at ₹3,800.
Nuvama Wealth Management (₹6,761.85)
Sees a strong rebound
The stock of Nuvama Wealth Management was up 10.5 per cent last week, the biggest weekly gain since the third week of June. The price is now above both 21- and 50-day moving averages. The recovery happened on the back of the support at ₹6,000. Overall, the chart shows that the stock is likely to have resumed the uptrend.
It can appreciate to ₹8,300. Therefore, traders can buy the stock now at ₹6,761 and accumulate at ₹6,400. Stop-loss can be at ₹5,900. When the price touches ₹7,200, trail the stop-loss to ₹6,800. Revise the stop-loss to ₹7,600 when the stock hits ₹7,900. Exit at ₹8,300.
Tata Technologies (₹707.20)
Shift in direction
The stock of Tata Technologies rallied in the last two sessions. Consequently, it has formed a higher high, which is visible on the weekly chart. The price action since August hints at a shift in direction of the trend, favouring the bulls. So, we expect the stock to appreciate to ₹900 over the next few months.
But note that when it reaches ₹800, there might be some consolidation before the next leg up. One can buy now at ₹707 and ₹675. Place stop-loss at ₹645. When the price hits ₹800, alter the stop-loss to ₹750. Revise the stop-loss to ₹815 when the stock touches ₹850. Book profits at ₹900.
Published on October 4, 2025
