Tech Mahindra has very closed to broken out of a downward sloping trendline, signaling a potential trend reversal. The breakout is supported by increasing Put writing and Call unwinding at the 1600 strike, indicating strong support and bullish positioning in the derivatives segment.
Additionally, positive last quarter results strengthen the overall bullish outlook.
Trade Setup
Buy: ₹1605 (Current Market Price)
Targets: ₹1700 – ₹1750
Stop Loss: ₹1560 (Closing basis)
View: Bullish above ₹1600
Risk–Reward: Favorable
Additionally, positive last quarter results strengthen the overall bullish outlook.
Trade Setup
Buy: ₹1605 (Current Market Price)
Targets: ₹1700 – ₹1750
Stop Loss: ₹1560 (Closing basis)
View: Bullish above ₹1600
Risk–Reward: Favorable
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.