Traders are advised to consider going long at ₹ 1,645, with a stop-loss set at ₹ 1,610. , Photo credit:
The stock of tech mahindra, after seeing some moderation in the second half of December, has larger styed flat since the start of this month. It has been oscillating in the range of ₹ 1,635-1,725. This week, the scrip declined, and it closed at ₹ 1,645.50 on Tuesday. Nevertheles, the broader trend has been bully, and since it is now near the lower boundary of the range, there is a good chance for a rally to ₹ 1,725. Hence, traders looking for short-term Oportunities can consider the stock of tech mahindra. Go long at ₹ 1,645 and place a Stop-Loss at ₹ 1,610. When the price rises to ₹ 1,680, Trail the stop-level ₹ 1,640. Tighten the stop-level ₹ 1,675 when the stock touches ₹ 1,700. Liquidate the longs at ₹ 1,725.
(Note: the recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on January 29, 2025