Infosys has completed an expanded flat correction. The current price action suggests that stock is rising up in an impulse manner having the first wave as leading diagonal. One should go long on current levels with the SL of 1655 for the target of 1780/1820
Bollinger band - Stock is much stronger than previous candles at the same level acc to standard deviation
Multiple trendlines breakout possible on closing basis as well as all time high.
Also, there has been a good correction in IT sector, and can show recovery now.
After forming a temporary top near 1548 zone , the stock has given an impulsive fall. This suggests there should be a zig-zag correction. One should buy the stock on current levels with SL of 1370 & look for a target of 1455-80 zone.
Tech Mahindra Share consolidating after a good upward momentum.
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We can see the continue upward momentum once it cross 1480,
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Our short term target is 1520.
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What's your view on this comment below in the box.
Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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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.
Small pole and flag forming in TATA ELXSI. Wait for a break from the upper end of the flag for a target of a 3920 near 52 W high and stop loss of 3400. If it breaks below do not enter. Wait for it to reach 3400ish levels.
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, please analyze yourself as well. I just...
My idea about TCS is clearly visible in Chart.
You can see a Ascending Triangle Pattern formation. Its mostly known for a Positive direction breakout.
We have a lower ascending trendline which is also acting as a support line. You can see Higher lows. Whenever there are higher lows we can say stock is in Up trend.
Upper horizontal trend line is resistance line,...
Any Dip upto 450 can be good opportunity to accumulate the stock for a initail target of 620-640.
Disclaimer: I am not a SEBI registered or authorized analyst.
The charts/levels/stocks posted will be only for educational purpose and not a buy/sell recommendation.
I will not be responsible for your any losses & profit. No any kind of legal actions will be...
HOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...
Long Tech Mahindra above 605 for Intraday Target 635 and Short term target is 670+ with strict stop loss is 595. Here You will get 1: 7+ risk-reward.
Disclaimer: This is my personal view. kindly take the advice from your financial adviser before initiating the trade.
Wait for volume to break. Observe only volume indicator as momentum indicators does not work better in sideways price movements. Wait for breakout with good volume.
