TECHM - Tech Mahindra
Updated
Levels -
Buy - 1014+
T1 - 1040
T2 - 1080
SL - 990
Indian IT Sector stocks are hitting all-time highs. Keeping this undertone in mind, TECHM is a strong candidate to buy due to the following reasons:
1. So far TECHM has not participated aggressively in the rally
2. Organization has seen some major tie-ups with large tech companies in the previous quarter
3. Flag pattern can be seen on daily charts
4. Trying to cross its 25 and 50 days EMA.
The stock has a strong supply zone of 1008-1014, post breaching these levels on the upside, TECHM can see a rally up to the levels of 1040 and then 1080.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Buy - 1014+
T1 - 1040
T2 - 1080
SL - 990
Indian IT Sector stocks are hitting all-time highs. Keeping this undertone in mind, TECHM is a strong candidate to buy due to the following reasons:
1. So far TECHM has not participated aggressively in the rally
2. Organization has seen some major tie-ups with large tech companies in the previous quarter
3. Flag pattern can be seen on daily charts
4. Trying to cross its 25 and 50 days EMA.
The stock has a strong supply zone of 1008-1014, post breaching these levels on the upside, TECHM can see a rally up to the levels of 1040 and then 1080.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Note
T1 has been achieved.T2 is active.
SL can be trailed to 1008.
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