The outlook for Tech Mahindra is bullish. The stock has surged over 5 per cent last week and has closed on a strong note. This rise has taken the share price well above the 200-Day Moving Average (DMA) and is also sustaining well above it. That strengthens the bullish case for the stock. The region between ₹1,620 and ₹1,590 is a strong support zone now which can limit the downside. Tech Mahindra share price can rise to ₹1,800 again in the coming weeks. Traders can buy Tech Mahindra shares now at ₹1,659. Accumulate on dips at ₹1,630. Keep the stop-loss at ₹1,560. Trail the stop-loss at ₹1,690 when the price goes up to ₹1,710. Move the stop-loss further up to ₹1,720 and ₹1,750 when the share price touches ₹1,745 and ₹1,770. Exit the long positions at ₹1,800.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)