Bulls Struggle At 20-Day EMA: SEBI RAs See Short-Term Range Of 25,000–25,500 For Nifty
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Tech Mahindra’s stock has broken through a previously tested supply zone near ₹1680 and is primed for a bullish run in the coming weeks, SEBI-registered analyst Sameer Pande said.
The analyst said that Tech Mahindra (NSE:TEML) is currently showing strong momentum across multiple timeframes on the technical charts.
Monthly Timeframe
The stock is trading above key indicators like Supertrend and volume-weighted average price (VWAP), reflecting sustained buying interest, the analyst said. The Relative Strength Index (RSI) is around 64, suggesting underlying strength without being overbought.
The analyst sees immediate resistance around the ₹1800 level, while support is established near ₹1500. The overall structure on the monthly chart remains bullish, Pande added.
Weekly Timeframe
On the weekly chart, bullish signals continue to strengthen, Pande said. The stock is trading above VWAP, and the RSI has crossed 60 — both signs of positive momentum.
The analyst said it has also broken through the previously tested supply zone near ₹1680, indicating potential for further upside in the coming weeks.
Daily Timeframe
Short-term charts also align with the broader bullish trend, with RSI at around 73, supported by strong trading volumes, confirming active buying.
The analyst said that immediate resistance is again seen near ₹1800, with solid support levels between ₹1660 and ₹1610.
Pande suggests setting a stop-loss at ₹1540 to manage downside risk, adding that if the current momentum continues, a breakout above ₹1800 could open the door for further gains.
The IT services company reported a 76.5% year-on-year growth in consolidated net profit for Q4 FY25, along with a 4% increase in revenue from operations to ₹13,384 crore.
Retail sentiment on Stocktwits remained ‘bullish’.
The stock has lost around 0.7% year-to-date as of Monday’s close.