TECHM
SHORT TERM || LONG || TECH MAHINDRABuy TechM on dips with SL of 718 and targets of 750/768. Confirmation received on the RSI.
TECHM swing trade (cash mkt) buy setup (Tiny risk Huge reward)Buy TECHM between 820-815
T1: 840
T2: 884
T3: 907
T4: 935
SL: 808
TechM - Evening Star Pattern - ShortEvening star pattern at the top. And Looks Like forming a handle (Cup & Handle Formation)
If it goes below, 813 short with the SL of 820 for the target of 808, 803, 798 / 799.
Thanks
TECHM CUP WITH HANDEL FORMATIONBullish view on weekly chart with cup with handle. if it breaks Daily Resistance it will cross over 1k.
TECH MAHINDRA , Long Idea , 18 feb 2019
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Idea is for positional trading not Intraday trading.
Never trust tractor company with IT services bizso this quick comparison gives enough reasons not to trust a tractor company with IT biz and services.
Comparing tops from 07 till date.
Infy 600+ % points
Tcs 900+ % points
TechM ~ 60%
Comments are most welcome.
Symmetrical triangle, Consolidation in TECHM ? Buy or Sell ?Expecting breakout of symmetrical triangle soon in TECHM ,
Wait for breakout and direction.
Short below - 689
Target - 678, 669 and 660+
Long above - 711
Target - 721, 738 and 745+
TECHM buy setup - Risky counter trend tradeBuy TECHM above 711 (for aggressive traders only)
T1: 720
T2: 729
T3: 740
SL: 697
NIFTY IT (CNXIT) trendline on historical chartIt has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions.
PS: Request you to use this trend line setup as a supplement to your analysis before taking any position.
Thanks,
tRex
Jurassic Park
TECHM- Flag Pattern formed- 240min chart - TECHM
Waiting for Flag BO. If BO done 100 points move expected
Tar1:775
Support:725,722
Tech Mahindra - Next in Q ?There is clear distribution seen in Tech Mahindra daily charts with clean divergence on RSI,
As we can see on chart there is very good support around 720 levels which was earlier a strong resistance, also volume has spiked up recently during last couple of down days.
TechM has been very resilient recently and despite the steep fall in Nifty we haven't seen much damage to it, But now as Nifty IT also starting to break down, if it breaks support around 720 and sustains below it then it can open doors to the levels all the way up to 620-600 and may do 550 as well, in between it can fine some support around 694/660.
On up side 760-770 should continue to provide very strong resistance on closing basis.
TECHM october series importanr levels I see some sort of correction in it sector to balance the one way rally ... but the correction will again get over soon looking at the earning season into picture as well as the usd inr depriciation will generate better revenue story for these stocks like tcs infy etc
Rally over for Infosys?Stock has been following the range bound uptrend which seems to be stalling at 745 750 levels.
Given the sharp recovery in rupee IT stocks may see selling pressure at higher levels.
Sell below 737 Stoploss 747 target 721
