TECHM LOOKING WEEK IT IS LOOKING WEEK AS MAKING HIGHER HIGH BUT MACD IS FLAT.
TODAY BEARISH MARUBOZU WAS FORMED WITH DECENT VOLUME
HIGHEST OI AT 720 CE AND MAX VOLUME TRADED
IF 693 LEVEL IS BROKEN THEN IT MAY FALL
Techmahindra
TECHM CAN BE BEARISH SOON Other than the points mentioned on my instagram IGTV @kotfotrading , from a longer time frame the current price is near to Fibonacci 38.2 level.
Buyers are dying out and I think this could be the last rally before TECHM starts falling (for short term). Also the 700 price zone is a Value area and Point of control on Volume Profile. Market is closed on Monday so lets see how TECHM opens on Tuesday.
I could be wrong. Do your own research before taking any trade
TECH Mahindra - Uptrend Price Move 654 ---> 713Tech Mahindra is in retracement of previous Big fall, so short term it is in uptrend and touch upto 713.
I marked the price movement as per target date in above chart.
Target 1 : 689
Target Date : 23rd Aug, 2019
Target 2 : 713
Target Date : 6th Sep, 2019
TechM - 10% returns tradeCmp: 708
Buying Zone: 700-710
Targets: 740-760-780
Potential Returns: 10%
NSE:TECHM
Tech M Bounce back will near possibleas it is hitting the resistance levels, it might bounce back from 3or 2 or 1 and might take a new high within 3-4 months time frame
TECHM Sell Near 720Sell Near 718-720 Levels With the stoploss of 727 Target 700 and 690
Reasons For Trade- 1. Daily Trend Is down 2.Price has seen excess selling on channel resistance 3 times 3. 725 is IMP resistance on daily chart. 4.Risk Reward Ratio is more than 1:2
Tech Mahindra | Weakness persistsTech 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 reversal, a strong break above 720 will be necessary. Or if the weakness continues and price falls below 690/700 the chances of Bear Flag target being achieved will go up significantly higher.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Go Long at CMP(740) for a target >790Go Long at CMP (=740) for a target >790 with SL @ 720 on weekly closing basis
Tech Mahindra providing entry for bulls- Every time the Stock has hit a new high, it has retraced 23.6%.
- Following to which the stock has rallied to about half of the retracement.
- Based on the same, the next likely target is Rs. 900
TechM on strong supportIt is taking strong diagonal support as shown in chart.
will move upside as if it gave strong bullish candle,
and double bottom pattern on short term.
Possibly Buy set upTech M seems to have finished an expanding flat as part of a correction to move to the upside. Its highly likely that Tech M could start moving up to retest its previous highs and also possibly make a higher high. Now even if it makes a lower low on the 60 min , that could mean that the wave C is incomplete. I'd still look for a buy set up unless Tech M starts making a corrective pattern to go lower. From where it is at currently, the probability of moving higher is more likely.
TECH Mahindra Swing BUY TechM FNO BUY TECHM Long Opportunity____FOR EDUCATIONAL PURPOSES ____ NOT A TRADING ADVICE____
TechM Looking for a sharp up move from here, is now consolidating at a demand zone.
Possible Move UpTech M looks like it finished a running flat and that means it could continue to move up for one higher high. Alternatively, it could end up in a lower degree correction and move down once to end the higher degree correction. From what I see, I think this one is likely to be in an up move to retest the previous highs and/or go slightly beyond too.
SHORT TERM || LONG || TECH MAHINDRABuy TechM on dips with SL of 718 and targets of 750/768. Confirmation received on the RSI.
Tech Mahindra : Trade the rangeSell Tech Mahindra on rise at 745-748 SL 766 TGT 705. ( double top breakout target)
Buy at 705-702 SL 688 TGT 740 ( support line)
Tech Mahindra upcoming buyUpcoming buy in tech mahindra
Harmonic based Intraday and short term FNO calls with 85-90 percent accuracy
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TECHM CUP WITH HANDEL FORMATIONBullish view on weekly chart with cup with handle. if it breaks Daily Resistance it will cross over 1k.
