Tech Mahindra - Clean Breakout and Pullback Price Action
TECHM591 turning resistance into support. Hammer candle with low volume indicates that the sellers are not interested in moving the price further down. (May consolidate before moving up).
Entry can be at current market price, Stop loss can be at 558 or 578 and Exit can be a new high.
Note
As per wave analysis, the price can also retrace back to the levels of 580 - 589 making a higher low and then continues to move with the uptrend.Trade active
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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.