Tech Mahindra looks good for buy now as it has broken the recent resistance of 1180 and now moving towards next zone of 1311 in a bullish manner, the long term goal can be to hold it till the 1560 levels, as there is a gap near the zone which the price will try to fill out.
NSE:TECHM has been corrected 61.8% as per Fibonacci. I will be best to take entry at level of 993 with stop loss of 943 (-50 Points Risk Only). Upside I can expect is 1067 & 1150. This could be low risk and high reward idea. Note: This is my personal analysis, only for learning. Thanks.
On an hourly time frame it is respecting 0.618 (golden level) of fibonnaci retracement. Its forming a desending triangle pattern on 30 minutes time frame. A bullish breakout may give a good move.