Trending stock under Rs 200: M&M Financial Service Ltd

Trending stock under Rs 200: M&M Financial Service Ltd

by 5paisa Research Team Last Updated: Dec 14, 2022 - 01:07 am 29.5k Views
Listen icon

The stock of M&MFIN is bullish and has soared about 4% on Wednesday’s trading session.

Mahindra & Mahindra Financial Services Limited is an NBFC, prominently financing the population residing in rural and semi-urban areas of India.

The stock of M&MFIN has soared about 4% on Wednesday’s trading session. It has bounced back from its 20-DMA and recorded above-average volumes during the prices. The volume was found to be greater than the 10-day, 30-day and 50-day average volume. Despite the gap-down opening, the stock has received strong buying interest at lower levels and has formed a bullish candle on the technical chart. Moreover, rising volumes were recorded for the fourth consecutive day, justifying strong buying interest among the market participants.

Along with its strong price structure, several technical parameters are pointing towards the bullishness of the stock. The 14-period daily RSI (69.17) indicates a strong strength in the stock, while the +DMI is above the -DMI and ADX point upwards. This is a sign of bullishness and depicts a strong uptrend. On Balance Volume has crossed above its prior swing highs and demonstrates strong strength in the stock from volume’s point of view. The Mansfield Relative Strength indicator indicates a relative outperformance of the stock as against Nifty 500. Other momentum oscillators and technical parameters are in-line with the stock’s bullishness as it trades above all the key moving averages. It is 15% above its 200-DMA and over 6% above its 20-DMA. Moreover, moving averages point upward and indicate bullishness.

In one month, the stock has gained about 12% and about 22% in three months. It is in a strong uptrend as indicated by the above points. Considering the ongoing momentum, the stock is expected to test the level of Rs 200, followed by Rs 210 in the short to medium term. It presents a good opportunity for swing trading. Short term traders/ positional traders can expect decent profit in the near term as predicted by the technical analysis.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Polymatech Electronics: ₹1,500 Crore IPO for Semiconductor Expansion

Polymatech Electronics, prominent semiconductor chip manufacturer based in Chennai, is gearing up for significant financial move with plans to launch₹1,500 cr initial public offering (IPO) by end of year. This IPO, double size initially envisaged, signifies company’s ambitious expansion strategy in semiconductor industry.

Vodafone Idea Sets Floor and Cap Prices for FPO Amid Market Speculation

In a major development, Vodafone Idea Ltd. has revealed the floor price and cap price, alongside the lot size, for its upcoming follow-on public offering (FPO). The telecom giant witnessed a decrease of more than 3.25% during early trading on Wednesday, settling at ₹12.51, thus holding a market capitalization exceeding ₹61,000 crore.

Bondada Engineering Share Price Surged by 1423.2%, Know Why?

Bondada Engineering, standout in integrated infrastructure sector, witnessed extraordinary surge in its share price, soaring by impressive 1423.2% since its debut on BSE SME platform in August 2023. Investors who were part of IPO allocation saw significant gains, potentially earning 18.3 lakhs in just over eight months.