TECHM
hit a fresh all time high when the overall market is very weak. It gave a breakout from a rising wedge pattern.
Look to enter at CMP if it breaks the day's high. Enter with rest of the position once stock retraces.
Possibility of a fakeout is very high but the IT sector is the only sector outperforming in Indian markets.
Stock is also good for long term buy and hold.
Trade active:
2 days big retracement. Enter with rest of position next week.
Trade closed: stop reached:
Unfortunate aggressive selling in IT sector made sl hit.
Hold and sit tight.