Tech Mahindra will test strong resistance around 605-606.
It will be bullish if it breaks 607.
My immediate intraday view on 14th July will be bearish because from a sudden volume spike it will retrace on the next day.
Previous 4 instances of similar volumes have given retracement on the very next day so we can short it on 14th July and then asses for a breakout in the coming 4-5 days.
It will be bullish if it breaks 607.
My immediate intraday view on 14th July will be bearish because from a sudden volume spike it will retrace on the next day.
Previous 4 instances of similar volumes have given retracement on the very next day so we can short it on 14th July and then asses for a breakout in the coming 4-5 days.
Trade closed: target reached:
So on 14th July, stock made low of 592.55.
And on 15th July, it broke 607 level and made high of 630.
I am happy that both my view worked pretty well.
And on 15th July, it broke 607 level and made high of 630.
I am happy that both my view worked pretty well.