Multibagger Stock: M&M 80% move in just 10 months!!

We published about Mahindra & Mahindra in our Jal Multibagger stock report and predicted the possibility of multi-bagger returns in the coming 1-2 years. Check out the below research we published on 22nd February 2024.

This stock has managed to hold its gain and gave more than 80% returns in 10 months of span and made a life time high of 3222 levels. 

Mahindra & Mahindra Weekly Chart anticipated as on 22^nd February 2024.

Mahindra & Mahindra Daily Chart anticipated as on 22^nd February 2024

Wave Analysis as on 22^nd February 2024:

Multi-bagger stock recommendation: Mahindra & Mahindra

Buy Price – Buy at CMP 1910 more on dips

Time Horizon –1 to 2 years

Investment – 5% of capital

Target price –??

Stop loss - ??

Anticipated as on 22^nd February 2024 – Elliott Wave Theory:

Mahindra & Mahindra is an Indian multinational automotive manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra & Mohammed and later renamed Mahindra & Mahindra. Part of the Mahindra Group, M&M is one of the largest vehicle manufacturers by production in India.

Let’s us understand view for M&M with the help of advance technical tools. As per wave perspective, stock is following classic Elliott wave theory. Wherein, primary wave (4) got completed near 245 levels and currently wave (5) is ongoing. This is one of the reasons why we have seen strong outperformance by this stock in the current rally. Furthermore, this wave (5) has been sub-divided into 5 waves, of which wave 3 of iii is ongoing.

We can observe from the above chart, that the Multi month trendline has proven to be effective. Since it has consistently offered support. Prices recently found support at that level, and a strong rebound was observed. Apart from this, KST indicates that strong momentum is likely to continue because it is trading above the zero-line following the crossover.

Mahindra & Mahindra Weekly chart happened as on 1^st January 2025

Happened:

The stock has been moving in sync with our expectations. After a dip, stock has shown sharp rise on the upside which is overall 80% from the lows in just 10 months of span!!! Stock has touched its fresh record high near 3222 levels recently and currently it is quoting near 3065 levels. The overall up move has been strong and we expect prices to achieve its target of...levels in comings months.

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