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Price and trend forecast of TECHM for Tomorrow, Weekly, Monthly

Tech Mahindra Limited

Symbol: NSE:TECHM

ISIN: INE669C01036

1,242.10

As on 2024-04-12

981.05 (52W Low) 1,416.30 (52W High)

TECHM's Today's Performance

Tech Mahindra Limited started the day by opening at 1,264.95 today 2024-04-12. Its shares reached a high of 1,269.75 and dipped to a low of 1,238.00 in intraday. When the markets closed, TECHM’s stock price settled at ₹1,242.10 per share. Also check out its key support and resistance levels.

TECHM Buy/Sell Targets

Tomorrow, sell TECHM when its price reaches ₹ 1,242.10 with a stop-loss order at ₹ 1,257.34. You can set the target price as ₹ 1,226.86 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of TECHM for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for TECHM

Resistance Levels Value in ₹
Tomorrow Resistance 1 1,262
Tomorrow Resistance 2 1,282
Tomorrow Resistance 3 1,294

Important Supports for TECHM

Support Levels Value in ₹
Tomorrow Support 1 1,230
Tomorrow Support 2 1,218
Tomorrow Support 3 1,198
Based on where the stock opens tomorrow, if TECHM opens on a positive note, our first target will be ₹1,262. If Target 1 is achieved, we will aim for Target 2 which is ₹1,282.

But if TECHM falls below the average value of ₹1,249.95, you can enter a sell side position with target number 1 - ₹1,230 and second target - ₹1,218 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of TECHM

Looking at TECHM, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, TECHM has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for TECHM is moderate bullish.

Tomorrow's Volume based share price Forecast for TECHM

TECHM's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -23%.

Reversal detection for TECHM

Predicted trend chart of TECHM tomorrow for price forecast
TECHM may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹1264 in morning tomorrow
Target 1 tomorrow1262
Target 2 tomorrow1270
Target 3 tomorrow1282
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with TECHM's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if TECHM opens on a positive note, our first target will be ₹1,261.90. If Target 1 is achieved, we will aim for Target 2 which is ₹1,281.70.

But if TECHM falls below the average value of ₹1,249.95, you can enter a sell side position with target number 1 - ₹1,230.15 and second target - ₹1,218.20

TECHM's Weekly Targets
1st Up Target 1,269.40
2nd Up Target 1,296.70
1st Down Target 1,226.40
2nd Down Target 1,210.70

As the week for TECHM ended on bearish sentiments, we can expect further continuation of this sentiment. TECHM's initial target will be 1,269.40 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,226.40 in the upcoming week.

Weekly OHLC Values
Open 1,270.00
High 1,281.00
Low 1,238.00
Close 1,242.10

Week for TECHM started with an open price of 1,270.00, and the close was at 1,242.10. TECHM reached the highest of 1,281.00 and dipped lowest up to 1,238.00 last week. This indicates a bearish sentiment for the week.

TECHM full month swing targets
Monthly Up Target 1 1,312.40
Monthly Up Target 2 1,339.70
Monthly Down Target 1 1,183.40
Monthly Down Target 2 1,124.70

Targets of ₹1,312.40 can be expected to be reached in the coming month. Once TECHM achieved this target, we can aim for the next upside target of ₹1,339.70.

TECHM if fails to hold upside, down targets of ₹1,183.40 and ₹1,124.70 can be achieved by end of this month.

For complete three weeks if TECHM is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as TECHM

Symbol Name Industry
TCS Tata Consultancy Services Limited Information Technology Services
INFY Infosys Limited Information Technology Services
CYIENTDLM Cyient DLM Limited Electronic Components
HCLTECH HCL Technologies Limited Information Technology Services
IDEAFORGE ideaForge Technology Limited Computer Hardware

Summary

TECHM is expected to reach the target of 1,261.90 in tomorrow's trading session.

After achieving the initial target in TECHM, we will aim for higher targets of 1,281.70 tomorrow.

However, if TECHM starts to trade below ₹1,249.95, then we will shift our focus to the sell side and aim for down targets of 1,230.15 and 1,218.20.