IT buzzers-TECHM above 520 will become super bullish tgt 550-565

Tech Mahindra Ltd future chart Tech Mahindra Ltd stock today trading at 515 with almost 7% gains. Stock rallied on good results and after breakout above 473 rupee achieved its tgts of 503 and 519. In intraday we saw high up to 532 suggesting super bullish nature of stock for the day.     Traders must watch closing if close above 520 then expect super bullish tgts of 550 and 565. Failure might result in correction and profit booking. On downside 503 and 475 are support as well as tgts zones on correction.     From long term view, stock trend will change on bullish side if sustain above 530 rupee on weekly closing basis.

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Pramod Baviskar

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