=Today, Tech Mahindra showcased a significant breakout after consolidation within a parallel channel pattern across multiple time frame.
=After undergoing of correction of over 50% last year this stock now seems to give a good momentum. We can reasonably anticipate a potential gain of at least 10% from this level.
NOTE- Do prepare your setup and then Analyze....
Breakout In TECHM. Target Open till 1260. After consolidating from last around 10 month, now TECHM is expecting to go up.
CMP = 1178-1180
SL = 1162
Target 1220 , 1260.
Holding time 2-4 Weeks.
DISCLAIMER: WE ARE NOT ADVISORS. WE ARE NOT REGISTERED. THE IDEAS ARE MERELY PERSONAL OPINIONS. PLEASE CONSULT YOUR FINANCIAL ADVISORS BEFORE INVESTING.
In today's trading session, TECHM has given the major resistance line breakout. Keep your eye on the stock if 2-3 candles sustain above the resistance line it can be a trending move.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
Breakout on daily timeframe via trend line.
TECHM ready for a mid term swing buy trade.
Please refer the chart for the respective SL and Targets.
Plan trade as per proper Risk Reward ratio.
Note: This information is for entertainment purpose only and please do your own research and consult your financial advisor prior to taking any action.
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we can see a wave 1 - 500 to 1800 , in this wave we can see a good retracement of .618 and price is also taking support on a major trendline. AB=CD can be form
a good consolidation or a pennant pattern also can be seen .
if we sit in this trade on the sl of 900 we can definately seen a return of 100% in this script
Tech mahindra making running flat, plan your entry on breakout of the c wave, might break the mentioned level because overall big structure in 4h is also a running flat pattern which looks very corrective in nature so price might come down after completing the overall pattern.
Stock has been in a range for a while. Idea is to build a position in the demand zone and sell at the resistance area.
Stock and sector have face pessimism hence it is a contra call trade. Follow SL with Discipline and Exit as soon as it hits.
Disclaimer - Please take positions as per your risk appetite and I am not responsible for any profit or loss.
Tech mahindra , the IT giant which had fallen almost 50% from its 2021 highs has been consolidating in a range from 1150 to 1000 levels for more than 300 days , any breakout on either side will give huge movements on either sides , on upside if theres breakout the stock can test 1400 levels (20%) , on downside if theres a breakdown a big fall is possible towards...
TECHM long indication on charts
Gave a good support and currently near the support levels. If gives good upmove with volume then we can see 1220 + levels in near term.
No recommendations, just my view based on charts.
TechMahindra Creating Strong Consolidation , Look for entry on either side of breakout or breakdown.
Go Long above 1170 or reversal at 938.
Go Short below 938 or 1170 .
To short at 1170 Look for 15 mins M Patterm
To Short Below 938 Look for 15 mins candle close below 938 and low break
To Go Long at 938 Look for 15 Mins W Pattern
To Go Long Above 1170 let it...
NIFTY IT index is currently in a sideways territory , there is high possibility that the levels of 32k to 33k will act as a decider point for trend in coming days , anything sustaining above 32-33k levels will lead to a bullish rally towards all time highs , if index rejects and sees selling pressure from 32k-33k levels , there can be another big correction coming...
TECHM is nearing a very important long term support level, if it holds we can see a massive rally. Otherwise expect the range to get narrower until a breakup or breakdown happens.
A triangle chart pattern involves price moving into a tighter and tighter range as time goes by and provides a visual display of a battle between bulls and bears.
Script = Techm
Time Frame = 15 min
TECHM now Trading above 21 & 55 emas, successfully crossed 200 ema and retested now in dcb chart. As per drawn Fibonacci Extension, short term Target would be 1195-1205 and mid term target would be 1340-1370. Those mentioned zones are vital resistance zones also.
Disclaimer - this chart analysis is only for educational purpose. Do proper study before taking...
