The long-term outlook for the stock of Mahindra & Mahindra (₹922.25) is positive. As long as it remains above ₹710, the positive outlook will not face any threat.
The stock finds an immediate support at ₹825. If the current trend sustains, M&M could reach ₹1,160.
The maximum loss could be the initial payment and that will happen if M&M fails to sustain the current level and closes at or below ₹920. A profit of ₹26,200 is possible if the stock rises to ₹960 or above during this series. Traders can consider exiting the position at a profit of ₹15,000 or at a loss of ₹7,500. Hold the position, for at least two weeks.
Long-term investors can consider buying M&M futures with a stop-loss at ₹902 initially for a target of ₹1,160 with trailing stop loss.