OUR RECOMMENDATION
| CMP# | 811.35 |
| Idea | BUY |
| Buy Range | 780 – 800 |
| Target | 850 – 860 |
| StopLoss* | 775 |
| Duration | 12 – 15 Trading Sessions |
| Potential Return^ | 5 – 6% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 811.35 | BUY | 780 – 800 | 850 – 860 | 775 | 12 – 15 Trading Sessions | 5 – 6% |
# CMP on Feb 6, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 826.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Tech Mahindra Ltd, an IT services and consulting company in India engaged in the business of computer programming, consultancy and related services. The Company offers Information Technology (IT) Services and Business Processing Outsourcing (BPO) and helps clients across the healthcare, manufacturing, energy, natural resources, utilities, financial services, telecom and retail industry verticals. For the quarter ended 31-12-2018, the company has reported a Net profit after tax of 1220 Crore as against net profit of Rs.924.4 crore in the corresponding period last year.
| Stock Data | |
| NSE Code | TECHM |
| Sectoral Index | NIFTY IT |
| 52W High | 814.5 |
| 52W Low | 563.65 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock formed well defined Symmetrical Triangle Pattern over the last 6 months and a breakout above the upper side shows further bullishness.
- Volumes have gone up along with price rise.
TECHNICAL OBSERVATIONS (DAILY)
- We are also witnessing the formation of ‘Higher Highs Higher Lows’ on a Daily chart, which is a positive sign as per ‘Dow Theory’.
- Last few days stock is trading above the 15 days MA and recent closing above the Upper Bollinger Band showing the confidence of bullishness.
- There is a recent Gap Up opening indicates further momentum on going upwards.
