Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "The overall IT space is looking quite strong. Infosys and Tata Consultancy Services (TCS) have seen a very strong build up of position. But as far as Tech Mahindra is concerned, today we have witnessed almost 3-3.5 percent rise in the open interest, clearly indicating that a lot of long accumulation has happened. We are expecting a target of Rs 1,370-1,375 in the next 3-4 trading sessions in Tech Mahindra."
"One can initiate a long positions at current levels and look for a dip towards Rs 1,300 to average the long position, Rs 1,285 would be the stop loss for going long in the stock," he said.
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