Below Rs 255, MM Fin may test Rs 235-240: Pritesh Mehta

Written By Unknown on Jumat, 21 Maret 2014 | 14.02

Pritesh Mehta of IIFL is of the view that below Rs 255, Mahindra & Mahindra Financial Services may test Rs 235-240.

Pritesh Mehta of IIFL told CNBC-TV18, "For a while Mahindra & Mahindra Financial Services  was building a base around Rs 240-250 odd levels and then after it had a corrective rally, it went to Rs 280 odd levels, it failed to sustain at that level and again came back down now. It is important from current levels that it takes support of Rs 255 and if it fails to do so then we can see a big decline coming in and we can see the stock going back to levels of Rs 240-235."

At 12:18 hrs Mahindra & Mahindra Financial Services was quoting at Rs 260.55, up Rs 1.40, or 0.54 percent.

Disclosure: Analyst might have recommended the stock ideas to his clients but has no personal holdings.


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