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TechM has formed a double bottom and also broken the downward trendline. Buy above 480 stop loss 475- Targets are 486, 491, 495 and 498.
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Regards
Mayur Shah
thanks & regards
I have learnt 1 thing that any good Fundamental stock and beaten down Springs back sooner or later now this stock is at its Low.. and out of favour sector.. but yes lets wait & watch
Risk Reward is good. correct me if i am wrong
Thanks & Regards
Also, there is double-top formation in the stock by registering highs of 515.25 and 515 on 21st and 23rd of Feb., 2017, respectively, so the stock is less likely to show its aggression on retracing the fall beyond certain point, that it should have under normal circumstances. Also, as shown in the chart shared below, the stock may face resistance at or below the supply line drawn, and the point of resistance on the supply line comes around 491 or below that. The chart of TECHM (Daily) has been shared in this regard. Refer to the same and let me know if there is correction on my side.
Lastly, my purpose of sharing my views with regard to this post was just to stop making wrong decision and not to question your analytical abilities, as I personally have seen your analytical ability when you gave call on TATASTEEL recently and many more before that. Sorry, if I have hurt. Regards @sgor1980 !
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