Stock of Interest

Posted On: October 13, 2023

Stock Report: #TECHM (#NSE) 12 Oct 2023 

Tech Mahindra Ltd is an IT services and consulting company in India. It offers a variety of technology solutions and services in addition to business process services. Its segments are Information Technology and Business Processing Outsourcing. The technology solutions include helping companies engage in cloud software, mobile solutions, network services, cybersecurity, and a variety of other options. The business process service is offered across various industries including telecom, financial services, retail, energy, hospitality, high-tech, agriculture, and food beverage. The company’s approach includes cost reduction, process optimization, and ownership through automation and productivity improvements. Tech Mahindra generates approximately half of its revenue from the United States. 

#xCalData predicts that # TECHM will continue its bearish phase over the next five days and trend within the range of 1130 to 1236. 

  

 

In comparison to the previous month, the price of the stock has experienced a decline of 5.08% indicating a bearish. 

The Stock has doubled once since 06 Jul 2015 and took an average of 5.4 years to double. 

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 2 years in the past. 

Majority of the technical ratios trend towards Bearish side of the spectrum. Only some of the technical indicators namely MFI indicate Bullish view. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days

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