As we have seen in last week, the market was falling every day and in this bearish market, IT stocks were hitting day high. The reason behind this was that the Dollar Index was helping the IT stocks. We caught one of them, see below daily chart of Tech Mahindra (NS:TEML). On 22nd August, the stock has given Breakout to Trend Line and closed near day high. This breakout has given confirmation of the Inverted Head & Shoulder chart pattern.
As per our view, we can buy TECHM from current levels or on dips till 675-670 for the target of 710-730-750. Keep stop-loss of 660 on a closing basis.
As per our view, we can buy TECHM from current levels or on dips till 675-670 for the target of 710-730-750. Keep stop-loss of 660 on a closing basis.
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