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Buy Tech Mahindra with 8% return: Nandish Shah

1 January, 2019 5:30 AM
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Buy Tech Mahindra with 8% return: Nandish Shah

We recommend buying Tech Mahindra for the target of Rs 780, and keep a stop loss below Rs 690.

Tech Mahindra is best-performed among the technology stocks, where it gained by 43 percent in the CY18 as against the 23 percent rise in the Nifty IT Index.

After taking support around 200-day SMA multiple times during last couple of months, stock price reversed northward to close at highest level since 05- December. Oscillators and momentum Indicators like RSI and MACD is showing strength on daily charts.

high level in the coming days. Therefore, we recommend buying Tech Mahindra for the target of Rs 780, and keep a stop loss below Rs 690.

Source: moneycontrol.com

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