Krish Subramanium of Asit C Mehta Investment Intermediattes told CNBC-TV18, "Tech Mahindra amongst the Tech pack probably has been one of the better ones performing and it is nudging to the all time high levels. We feel that with change in the sentiments and also the short covering that we saw last week which is continuing now and we feel that Tech Mahindra could be bought."
"We are recommending a bull spread. So one could possibly buy 2700 strike call at an Rs 103 and correspondingly sell a 2900 strike call that is quoting at around Rs 24, so net cost comes to about Rs 80. We are keeping a target of Rs 150 and maybe a stoploss of Rs 50," he added.
Disclosure: Analyst has recommended the above strategies to his clients at large; personally he doesn't have holdings in it.
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