Oct 10, 2012 06:09 PM IST | Source: CNBC-TV18

Tech Mahindra may rally to Rs 989-990, says Murlidharan

Tech Mahindra may rally to Rs 989-990, says Manoj Murlidharan, IIFL.

Tech Mahindra may rally to Rs 989-990, says Manoj Murlidharan, IIFL.

Murlidharan told CNBC-TV18, “If I have to pick one stock in IT space, it would definitely be Tech Mahindra. I guess there is good volume happening and we are seeing good long positions happening not only in the derivatives side but we feel it is a cash base accumulation.”

He further added, “We are expecting good delivery to happen after today’s trade as well. So, I guess somewhere close to Rs 972 is what it is trading at. Keep a stop loss at Rs 966 on that and possible even a Rs 989-990 for short term lets say a couple of days is what we are expecting on that.”

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