Tech Mahindra is currently trading at its 52-week high, forming a bearish candle on the daily chart, signaling profit booking at higher levels.
Although the stock is forming a bearish candle indicating profit booking, it remains above all major EMAs, suggesting strong support.
The RSI (14) is above 60, indicating strength in momentum. A breakout from an ascending triangle pattern with significant volume reinforces the long-term bullish outlook.
The fast-moving EMA (12) is above the slower one (26), and the MACD line is above the signal line, indicating a positive trend. A retest of the breakout level could provide a strong buying opportunity.
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