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Religare Super Ideas
Tech Mahindra Limited
TECHM has been gradually declining after forming a trend reversal (double top) pattern. After retesting the resistance zone of neckline area of the pattern, it has declined sharply of late, indicating negative trend to continue. The chart pattern and confirmation indicators are also in sync and pointing towards further fall. We advise creating fresh shorts as per the mentioned levels.
Sell Futs Tech Mahindra Ltd @745-750 Stoploss 762 Target 715 CMP 740.65
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