India’s CPI inflation data likely to be the focus point for the week.
India’s CPI Inflation data is set to release on Wednesday, November 12th. As per economists polls, India’s consumer inflation rate likely plunged to the lowest in at least a decade in October on a sustained fall in food prices, and intensified by a higher base of comparison last year. This may encourage RBI for another rate cut.
Now speaking about trade set-up for the upcoming week, a much-awaited rebound could be on the cards next week as Nifty bulls look to take cues from Wall Street’s roaring comeback from steep losses in Friday’s session.
The 2-big questions:
1) Are Nifty and its stocks already priced to perfection?
2) The return of risk?
The Street continues to show signs of fatigue after a barrage of below-expectation Q2 corporate results.
What’s dampening sentiment further is that Dalal Street is underperfoing its peers and most importantly, a time when confidence in earnings is showing cracks.
Still, a phase of mild uncertainty and consolidation might be exactly what the market needs before the next leg of the rally.
Near-term cues to watch include Q2 India corporate earnings,
Sunday (November 9): JYOTI CNC, VLS FIANANCE
Monday (November 10): SYRMA SGS TECHNOLOGIES, VODAFONE IDEA, V-MART RETAIL.
Tuesday (November 11): VESUVIUS, ZAGGLE PREPAIDYATRA ONLINE, TORRENT POWER, TRANSRAIL LIGHTING, VINDHYA TELELINKS, ZUARI INDUSTRIES
Wednesday (November 12): YUKEN INDIA, WANBURY, TEGA INDUSTRIES
Thursday (November 13): VIPUL ORGANICS,
Friday (November 14): V2 RETAIL, UNIPARTS
Last but not least, on the technical front, the Nifty will look to defend 100-DMA support at 25110 while on the upside targets remain at Nifty’s psychological 26000 mark and then all bullish eyes on Nifty’s all-time-high at 26277.35 mark.
The Nifty options data suggests Nifty is likely to be in a trading range of 25000-27000 zone. Maximum Call OI is at 26000 followed by 27000 strike prices. 26000 mark is now Nifty’s major resistance zone on closing basis. Maximum Put open interest stands at 25000 levels followed by 26000 levels. Call writing was seen at 25600 and then at 25500 strike price, while there was meaningful Put writing at 25200 and then at 25300 strike prices.
Price Forecast:
Nifty CMP (25492)
Support : 24851/24551
RESISTANCE: 25777/26200
RANGE: 25200-25630
200 DMA: 24375
Nifty PCR: 0.97
BIAS: Neutral
Bank Nifty CMP (57877)
Support: 56800/55000
RESISTANCE: 59240/60700
RANGE: 56900-59200
200 DMA 54003
BankNifty PCR: 0.91
BIAS: Neutral
Preferred trade for the week:
Nifty (25492): Buy on dips between 25251-25301 zone. Targets at 25777/26200. Aggressive targets at 26500 zone. Stop at 24822
TOP SECTORS
Bullish Sectors: BANKS,
Bearish Sector: MEDIA, METAL, IT
STOCKS IN FOCUS:
BULLISH VIEW: LTF, IDFCFIRTSB, VEDL, BEL, SBICARD, FEDERALBNK, BSE, MCX
BEARISH VIEW: BHARTIARTL, AMBER, INDIGO, APOLLOHOSP, SIEMENS, DMART, TRENT, OFSS, KAYNES, DIXON, DIVISLABS.
Mahindra & Mahindra Ltd
Mahindra & Mahindra Ltd
BUY
CMP 3690
Target Price 4300
Stop 3098
52 Week H/L 3723/2360
P/E 32.20
EPS (TTM) 107.53
Promoter Holding/FIIs/DIIs/FIIs/Public 18.43%/38.53%/29.57%/9.77%
Book Value 666
Market Cap (INR) 458887
Company Overview:
Mahindra & Mahindra (M&M) is a leading Indian OEM with two dominant pillars: Automotive (SUVs, LCVs, last-mile mobility, EVs) and Farm Equipment (tractors & agri machinery), complemented by adjacencies and group services (financial services, logistics, real estate, hospitality, IT). Global footprint across 100+ countries, with manufacturing operations in India, South Africa, and Egypt. The company holds leadership positions across its core franchises—#1 in SUVs (revenue share), #1 in LCVs <3.5T, #1 in Tractors, and #1 in electric 3-wheelers as of Q2 FY26. M&M’s next growth leg is Born-Electric SUVs on its INGLO skateboard platform, with a supply agreement for key EV components (MEB parts & unified cells) from Volkswagen Group. The first 7-seater born-electric SUV XEV 9S makes its world premiere on Nov 27, 2025.
Key Strengths & Competitive Advantages:
Leadership across core categories: Q2 FY26 highlights: SUV revenue share 25.7% (↑390 bps YoY); LCV <3.5T share 53.2% (↑100 bps); Tractors 43.0% (↑50 bps); e-3W share 42.3%.
Strong operating engines in Auto & Farm: Auto consolidated revenue ₹27,171 cr (+25% YoY); PBIT ₹2,538 cr (9.3% margin). Farm consolidated revenue ₹10,225 cr (+25% YoY); PBIT ₹1,608 cr (15.7% margin).
Strategic EV roadmap with global partnerships: INGLO platform + VW MEB component supply agreement de-risks EV execution (cells/components) while enabling faster time-to-market for BE (Born Electric) and XUV.
Risks & Challenges
Competitive Intensity in SUV Segment
Intense competition from Maruti, Hyundai, Tata Motors, and emerging EV OEMs could pressure volumes and pricing.
Supply Chain & Semiconductor Risks
Persistent chip shortages or logistics bottlenecks can delay production and affect delivery schedules.
Commodity Price Volatility
Steel, aluminum, and rubber price fluctuations can impact margins if not effectively hedged.
Key Financial Results (Q2FY26):
Consolidated PAT at Rs 3,673 cr., up 28%*
Consolidated Revenue at Rs 46,106 cr., up 22%
RoE at 19.4% (annualized)
1 in SUVs with revenue market share at 25.7%, up 390 bps
1 in LCVs <3.5T: market share at 53.2% ^ , up 100 bps
1 in Tractors: market share at 43.0%, up 50 bps
1 in electric 3 wheelers: market share at 42.3%
Technical Outlook: The stock at the moment is signalling massive breakout on the upside, confirmation of strength above its all-time-high at 3724 mark.. The stocks 200-DMA is placed at 3122 levels.
Preferred Strategy: Look to buy at CMP, and on dips between 3300-3350 zone, targeting 3725/4007, and then aggressive targets at 4251 mark. Stop below 3111. Holding Period 9-12 Months.
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