M&M (BUY, above Rs715, Target Rs735): M&M has signaled reversal from the short-term down trend after formation of bullish piercing line on Friday. It gave a close above the piercing line and also above its 100-DMA and 200-DMA confirming positive formation. The RSI is also trading with positive bias accompanied with positive crossover which supports buying argument in the counter. We advise buying the stock above Rs715 with stop loss of Rs707 for Target of Rs735.
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