Buy Tech Mahindra Ltd For Target Rs.2000 - Monarch Networth
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Tech Mahindra Ltd
Stock is rising perfectly in upward sloping channel formation since March 2020 and currently prices are taking support on the lower band of the channel (black line)and50 EMA (red line) however, it is noteworthy as both these tools are overlapping at similar levels.
In Dec 2021 stock made immediate top around 1830 mark and retraced ~28% from higher levels.After accumulating for 5 weeks at the lower band of the channel it is now revealing sign ofstrength in pricesas it has managed to close above the highs of previous 4 candlestick.
It is recommended to by at current market prices by keeping stop loss at 1320 and target of 1840 – 2000 levels for the timeframe of 4-6 months.
Buy : Tech Mahindra Ltd : CMP: 1500 SL: 1320 TARGET :-2000 TIMEFRAME: 4-6 MONTHS
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