Tech Mahindra can be used for a good short set position depending upon the price action. The closing price today (25 May 2021) was at a very interesting point. At 15 min time frame, it closed below 50 EMA but took support from the trend line. Short intraday position can be taken if a 15 min candle closes below the trendline with a target till 200 EMA and stop loss just above the 50 EMA.
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
Comment:
It broke below the trend line and 50 EMA but the volume was less, hence retraced back. We should always trade what happens and not what we expect :) What happened was not ideal to take the tradethus trade cancelled.