Exit Tech Mahindra on bounce, says Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "After a superb uptrend over the last couple of years Tech Mahindra gave a downtrend signal closer to Rs 600-650 levels when it gapped down and as of now we can expect a bounce towards Rs 600 and that is what we expect and keeping a stoploss below Rs 490 for that and any rise to Rs 600 to Rs 650 could be a good time to get out of the stock and shift towards other companies in the same sector. So a further rise towards Rs 600 to Rs 650 is where I would suggest an exit over the next few months."At 14:58 hrs Tech Mahindra was quoting at Rs 526.40, up Rs 1.70, or 0.32 percent on the BSE.