Tech Mahindra Ltd

NSE :TECHM   BSE :532755  Sector : IT – Software

About Company: Tech Mahindra is a leading provider of consulting-led integrated portfolio services to customers which are Telecom Equipment Manufacturers, Telecom Service Providers and IT Infrastructure Service Providers, Business Process Outsourcing Service Providers as well as Enterprise Solutions Services (BFSI, Retail & Logistics, Manufacturing, Energy and Utility (E&U), and Healthcare, Life Sciences, etc.) of Information Technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe. It also provides comprehensive range of IT services, including IT enabled services, application development and maintenance, consulting and enterprise business solutions, extended engineering solutions and infrastructure management services to a diversified base of corporate customers in a wide range of industries including insurance, banking and financial services, manufacturing, telecommunications, transportation and engineering services.

Technical Outlook of TechM:

Stock lost 3.32% today as profit booking was seen across the IT sector. But as far as technical Setup is concerned stock is still intact and up trending. Stock today took support at 10-Day EMA. Which provides to accumulate stock on correction. All the moving averages 10,20,50,100 are aligned in a linear pattern. We suggest short term traders to go long on stock 1475 for the targets of 1550, keep stop loss below 1418 level.