***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Note: This is for educational purpose only.
21 EMA is above 55 EMA which indicates short term uptrend. 21 EMA has been acting as dynamic support previously as well.
Moreover, there seems to be a bullish engulfing on 21 EMA. RSI above 60 indicates bullish momentum.
Tech Mahindra appears weak in chart. Earlier there was a Double Top pattern and currently we could see a valid Bear Flag pulling price downwards. Now that the stock is hovering around double top target levels of 700, which also being a round number the stock might pick it as a support and perform some recovery.
However, the recovery to be considered as a trend...