Analyst Recommends Buying Tech Mahindra Shares Now

Sumeet Bagadia, Executive Director at Choice Broking, on Wednesday recommended that investors consider buying shares of Tech Mahindra Ltd (TechM). He said the stock shows a positive trend on technical charts, suggesting that it could deliver good returns for investors in the coming months.

Bagadia advised investors to start accumulating Tech Mahindra shares at around Rs 1,640. He also suggested that if the stock price falls slightly to Rs 1,610, it would be a good opportunity to buy more. This approach, he said, allows investors to take advantage of short-term dips while building a larger holding in the stock.

According to Bagadia, Tech Mahindra has strong potential to rise in the near future. He set target prices of Rs 1,810 and Rs 1,890, meaning that investors could earn profits if the stock reaches these levels. He highlighted that the stock’s upward momentum is supported by solid technical signals and market patterns.

Bagadia also shared a positive view on the overall IT sector, saying it continues to show resilience and growth. With the global demand for IT services increasing, companies like Tech Mahindra are expected to benefit. He believes that the company’s strong fundamentals, along with recent developments and projects, could further support the stock’s growth.

For investors, Bagadia’s recommendation suggests a cautious but optimistic approach: buying on small dips, monitoring stock performance, and keeping an eye on broader market trends. This strategy can help investors make more informed decisions while potentially benefiting from the expected upward trend.

Overall, Bagadia’s advice reflects confidence in Tech Mahindra as a solid investment option in the IT sector, particularly for investors looking for medium- to long-term gains.