Missed this stock. Had we been 2 days before, we would have taken a good profit from this. But there's still some hope. It can still reach it's 8th October high and might even break it as the IT sector is positive.
Tech M in bullish mode on all TFs. Long entry to be taken above 855 for the target price of 880 & 900 with SL of 819. 3:1 reward to risk ratio. All ideas shared is for your educational purpose only.
Tech Mahindra Bullish Move Breaking trendline, we may see the level of Resistance around 857-880 On Downside Support around 830-810 in short term. ... If you like, just hit the thumbs-up button or comment and share. . Updated on : 06-NOV-2020 7.25pm Disclaimer: Only for learning purposes. - Nse Intraday Stock Trends and Stock Market Tips for more on stock trends...
stock seem overbought and some correction cant be denied
TECHM gave channel breakdown and also pattern looks like double top Price is near neckline breakdown Weak below 798 level
ANALYSES BASED ON 1. SWING ACTION 2. RSI 3. PRICE ACTION 4. RSI
TRADE BASED ON 1, HIGHER HIGH AND HIGHER LOW BASES 2. PRICE ACTION 3. VOLUME ANALYSES 4. FIBO RETRACEMENT
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.
Please follow these rules before taking a trade : 1. The breakout candle didn't have any volume (Checked). 2. It is at a major resistance (Checked). 3. The up-trend has to be broken and retested (Checked). 4. Take the trade only after the above these. Do let me know if any doubt is there.
Berish Below 501 Bullish above 535 Reverse trade if stopped out
According to technical indicators and candlestick analysis looks like the Indian I.T sector share gets overstretched and correction is possible. Also, RSI is in the overbought zone (80), and also in day frame analysis, it has formed a "Shooting Star" pattern (Trend reversal pattern). Here, by Nifty I.T analysis I am referring to I.T stocks Eg: NSE:TECHM , ...
With Indian IT sector looking strong, there are a few potential opportunities . HCLTECH was posted earlier TECHM is another one. Look for new highs while the support holds
IF STAYS ABOVE 790 LOOK FOR 820 AND HIGHER ZONE.
TRADE SETUP ! H & S CHART PATTERN ! Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. Wait for entry setup, if available then Long/short. Reward is 4-6 times .
Im not an expert im just sharing my views on TECHMAHINDRA for today Im not responsible for any profit or loss this is not a recommendation