Hadrien Mendonca
Tech Mahindra has been consolidating for the past five weeks and has finally broken out from a fresh base on the daily chart. The price outburst has been accompanied with a credible increase in traded volumes.
Other oscillators also are indicating that the current momentum is likely to extend further. We expect Tech Mahindra to rally towards its potential target of Rs 770 in the medium term.
Disclaimer: The author is Senior Technical Analyst, IIFL. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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