Nandish Shah
Tech Mahindra is the best performing stock in the Nifty in the calendar year 2018. It has rallied by about 38 percent so far in the year.
After consolidating in the range of Rs 660-720 since the last couple of months, the stock price is on the verge of giving breakout above Symmetrical Triangle by closing above Rs 720 odd levels.
The stock price is currently trading above its 5, 20 and 200-DMA indicating medium-to-long term trend is bullish. Technology as a sector is doing well and we believe that the trend is going to continue for the months to come.
Therefore, we recommend buying Tech Mahindra for the upside target of Rs 745 and keep a stop loss below Rs 670.
Disclaimer: The author is Technical & Derivatives Analyst at HDFC Securities. 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
