CMP : 424
SL: 433
TGT 403
Tech Mahindra is in a descending channel. So the trend is declining, so it should breakout below the lower trendline. The green area is the demand zone where it should find support. RSI is also in a downtrend. So shorts can be initiated.
Disclaimer: I am a novice at charting and this chart is purely for educational purpose. Views and opinions are welcome.
SL: 433
TGT 403
Tech Mahindra is in a descending channel. So the trend is declining, so it should breakout below the lower trendline. The green area is the demand zone where it should find support. RSI is also in a downtrend. So shorts can be initiated.
Disclaimer: I am a novice at charting and this chart is purely for educational purpose. Views and opinions are welcome.
Note
It is down, but at a support level. Revise stop to 424, and book 50% profits and hold rest for 403Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.