Buy Tech Mahindra; target of Rs 1050: Nirmal Bang

Nirmal Bang is bullish on Tech Mahindra and has recommended buy rating on the stock with a target of Rs 1050 in its January 11, 2013 research report.
 
“Tech Mahindra, after a strong rally from Rs 600 to Rs 1040 levels the stock had been consolidating in a range and has now given a breakout from an inverted head and shoulders pattern as shown in the chart. The pattern implication suggests a target of Rs 1050. The RSI has also given a trendline breakout as shown. We initiate a buy call on TECH MAHINDRA with a target of Rs 1050. Traders can keep a stop loss of Rs 940,” says Nirmal Bang research report.

Institutional holding more than 40% in Indian cos

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