Mahindra & Mahindra share price has been oscillating in a sideways range since May this year. Broadly, the trading range has been ₹2,930-₹3,170. This consolidation indicates a flag pattern formation. That leaves the bias bullish. As such we can expect the stock to break the range on the upside and rise in the coming days. A break above ₹3,140 will give an initial sign of breakout. That will open the doors for Mahindra & Mahindra share price to target ₹3,300 on the upside. Traders can go long now at ₹3,092. Accumulate on dips at ₹3,000. Keep the stop-loss at ₹2,910. Trail the stop-loss up to ₹3,120 as soon as the stock goes up to ₹3,160. Move the stop-loss further up to ₹3,180 and ₹3,240 when the price touches ₹3,220 and ₹3,270 respectively. Exit the long positions at ₹3,300.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)