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Published on 17/06/2019 9:50:52 AM | Source: Religare Securities Ltd

Sell Tech Mahindra Ltd For The Target Rs.715 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #Tech Mahindra Ltd #IT Sector #Trading Report #Religare Securities Ltd

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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.

Recommendation

Sell Futs Tech Mahindra Ltd @745-750 Stoploss 762 Target 715 CMP 740.65

 

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