TechM Mahindra looks bullish on chart with immediate target of 1080 with conservative SL of 1027 . It's already buy on ichimoku cloud for some time now, its trending upwards in MACD and now has given good breakout over trend line.
EXPECT RETRACEMENT UPTO 50% LEVELS BEFORE UPTICK MOEVEMENT
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TechM - multi year breakout. Hold for long term.
the buy entry point is mentioned in the chart buy above only if it closes above it. targets 1,2 are given. stoploss can be placed below trendline. the ideas which iam giving here is meant for educational purpose.if you like my analysis like,share and follow me for daily intraday analysis.
On Daily chart : Breakout sign already appeared in 15 Min .. A cup handle also can be seen . Wait for retest and let the price sustain above trend line before taking entry to ride this wave .
Tech Mahindra " Triangle Pattern " Possible breakout for tomorrow
Tech Mahindra can be used for a good short set position depending upon the price action. The closing price today (25 May 2021) was at a very interesting point. At 15 min time frame, it closed below 50 EMA but took support from the trend line. Short intraday position can be taken if a 15 min candle closes below the trendline with a target till 200 EMA and stop loss...
R1 at 985 and next R2 at 991 and if it breaks both then it will go way up. immediate support at 969 next support at 950, be ready for breakout sooon very sooon
range betweeen 950 and 975, as far 950 strong support if it breaks 950 good downwards momentum will be recorded, first resistance 975 and second resistance 994.50,if it crosses 994.50 good momentum expected to 1022 and 1050.
TECHM LOOKS GOOD FOR TOMORROW ! WAIT FOR CLOSING/RETEST ABOVE SUPPORT/RESISTANCE. IF OPEN BIG GAP UP/DOWN THEN AVOID OR TRADE ACCORDING TO PRICE ACTION ! TRADE WITH PROPER RISK MANAGMENT ! FOLLOW FOR DAILY ANALYSIS !
looks like good candidate for short sell
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