Choice Broking has recommended buying shares of Tech Mahindra at around Rs 1640, citing a b uptrend and a key support level at Rs 1610. The brokerage has projected a target range of Rs 1810 to Rs 1890 based on the current technical setup.
Weekly Chart Signals Uptrend
According to Choice Broking, the weekly chart of Tech Mahindra confirms a b uptrend, with the stock forming higher highs and higher lows. The brokerage stated that there are no signs of exhaustion in the current price movement.
The stock is trading above its 20, 50, 100 and 200-week exponential moving averages (EMA), indicating sustained momentum across short-, medium- and long-term time frames.
Support Level at Rs 1610
Choice Broking identified Rs 1610 as a key support level for Tech Mahindra. The brokerage said buying interest is expected around this level.
The firm advised buying the stock at the current level of around Rs 1640 and suggested accumulating more if the price approaches Rs 1610, as part of a staggered investment strategy.
Caution Below Rs 1525
The brokerage stated that if the stock falls below Rs 1525, the prevailing uptrend may weaken. It advised investors to remain cautious if the price moves below this level, as it could signal a change in trend.
RSI at 56.45 on Weekly Chart
On the weekly chart, the Relative Strength Index (RSI) is around 56.45. An RSI reading above 50 indicates buying strength, according to technical analysis parameters.
The brokerage noted that the RSI is not in the overbought zone, suggesting room for further upward movement.
Target Range of Rs 1810–1890
Choice Broking said the current technical structure could take the stock to a range of Rs 1810 to Rs 1890. The brokerage added that the stock may gradually move towards this target if market conditions remain supportive and no major negative trigger emerges.
The firm also noted that investors should monitor broader market trends and global factors, including movements in the dollar, global demand and technology spending, which influence the IT sector.
Valentine Day 2026 Pick
Tech Mahindra has been described as a potential Valentine Day 2026 pick based on its current technical setup. The brokerage’s view is supported by the stock’s support level, RSI position and established uptrend.
