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.
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!
