TradingSutra

TECHM: Prepared for news highs

Long
NSE:TECHM   TECH MAHINDRA
After a considerable correction as a running flat , TechM is ready to break the recent high to trade above the all time highs in the uncharted territory. The correction was assumed as a fourth wave correction & the current rise can be considered as the fifth wave.


Trading strategy:

Buy techm with sl of 1020 for tgt of 1140-50.
Manish Bhardwaj
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Comments

wxy is a complex corrective pattern, which has three wave formations of one or different corrective pattern. Any flat corrective pattern has 3-3-5 wave formation, whether it is regular or running or extended, besides other conditions required to confirm flat corrective pattern... Looking at the chart of the stock herein discussion doesn't depict completion of the correction process taking into parameter other oscillators.
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Hi. I have Tech M CE 1080 @ 27 , what to do
Reply
Tech Mahindra will give a weekly and a monthly breakout above 1080 levels,will definitely be huge.
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