Stock name: Tech Mahindra

Pattern: Near a strong support

Time frame: Weekly

Observation:

The stock has been in a consolidation for about a year now and is currently standing at crucial support. If the same holds, we may be able to see a fresh up-move from here.

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Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before making any financial decision.

News for the day:

1) Q4 result update: Indian Hotels
Revenue is up 86% YoY, down 3.7% QoQ
PBT is up by 419% YoY, down 20% QoQ

2) Kalyani Steels declared a dividend of Rs. 10

3) Aarti Drugs, Central Bank, Droneacharya, IDBI Bank, IDFC First bank, Khaitan Chemicals, Kotak Mahindra Bank, Meghmani Organics, RBL Bank and Rossari are amongst the companies which will post their quarterly results tomorrow.