NSE:TECHM
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Stock Is trading near Resistance Range.
After the morgan stanly down grade of ratings , hoping it to come down to the range 1125 to 1010.
if it comes to those levels, Can be good entry point.
Then wait for breakout. Once breakout 2000 will come for sure.
Downside levels are marked by green support ranges.
Long Term 10 to 15 months.
Strong breakout of resistance area
Now price resting on resistance level
Other stocks in this sector are also performing well
Took 40% position
Will add more as it unfolds
This is a short term - Medium term bet
Price is now at resistance zone, and turned to be bearish side..
On the other side we have a bearish channel,
every trendline on bearish channel tries to push the price upside...
the last trendline is stronger that will take the price again upwards..
wait until price falls below these line and retrace...
if failed to go higher a strong fall will observe.
You can buy TechM at 1209 or below this for intraday only. I suggest quick scalping for this stock either in 5 or 3 monute
Thanks for supporting my analysis. You can message for more information on stocks and Forex Signals.
tech mahindra in range from 22 august till now 28 june 2023
range is 999-1142 it has touched boundaries and the fall and rise happened
recent fall reverse from 1060 so i think now range breakout can happen
cmp 1108 sl 1060 above 1142 confirmation will be there
target 1284 and 1426
Tech Mahindra has been consolidating for quite a while now. just as with any other cream IT Company, looks like it's gearing up for some momentum.
It formed a beautiful symmetric triangle breakout and is now in a retest mode. A continuation of that breakout can trigger some good momentum.
Also, check out our opinion on the overall IT Sector.
What do you...
TECHM gave a breakout from the range and marked the price 1271 and trading back in the range looks like a Fake BO scenerio. I'll be accumulating it on every dip. For long position let it cross 1271.
TECH MAHINDRA
Key highlights: 💡⚡
✅On1hr Time Frame Stock Showing Breakdown of Double Top Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 1070-.
✅Can Go short in this stock by placing a stop loss above 1150+.
Tech mahindra is retesting the rectangular pattern and it about to Explode !
Buying range - 1150-1160
SL - 1070
Target - 1360 , 1575
with a great risk and reward ratio of 1: 5
Tech Mahindra consolidated and created leading diagonal pattern in it's first wave.
After completing it's first wave of the second wave - it has retraced back to 61.8%.
A good opportunity to buy with stop loss of 1035 and target of 1333
As result are near and dividend announced so operator made it down .
Good is not bad fundamentally.
Technically you all can see on the chart .
And support also there
I'm sharing educational experience.
Trade as per your plan
