Tech Mahindra breaks out from consolidation phase since April 2022, hitting fresh 52-week highs. Short-term traders can buy stock on dips for target of 1575 in 5-6 weeks. Stock rose over 10% in a week and 16% in last 3 months. Momentum helped stock breakout from consolidation phase. It is now trading above crucial short- and long-term moving averages. RSI is at 68.7, MACD is bullish. Stock has been consolidating in range of 950-1300. Fresh breakout above key resistance level of 1300. Delivery buying suggests long build. Buy stock for upside target of 1570-1575 with stop loss below 1200.
