Tech Mahindra looks pretty range bound: Ashwani Gujral, Market Strategist
In the markets, one generally tends to avoid stocks which have stock specific problems or are controversial.
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Tech Mahindra.
What is the call on Tech Mahindra?
In the markets, you generally tend to avoid stocks which have stock specific problems or are controversial - there is the issue of its merger with Mahindra Satyam, often there are reports of raids. So I do not think Tech Mahindra is really outperforming. It needs to cross at least 815 before you could say that it is entering some uptrend.
So far, it looks pretty range bound between say about 600 to about 820 and Hexaware, Polaris, Tata Elxsi are much better stocks. KPIT Cummins in the midcap tech space rather than Tech Mahindra.
What is the call on Tech Mahindra?
In the markets, you generally tend to avoid stocks which have stock specific problems or are controversial - there is the issue of its merger with Mahindra Satyam, often there are reports of raids. So I do not think Tech Mahindra is really outperforming. It needs to cross at least 815 before you could say that it is entering some uptrend.
So far, it looks pretty range bound between say about 600 to about 820 and Hexaware, Polaris, Tata Elxsi are much better stocks. KPIT Cummins in the midcap tech space rather than Tech Mahindra.
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