Long Tech Mahindra above 605 for Intraday Target 635 and Short term target is 670+ with strict stop loss is 595. Here You will get 1: 7+ risk-reward.
Disclaimer: This is my personal view. kindly take the advice from your financial adviser before initiating the trade.
Tech Mahindra stock to be taken for long entry after the trend line BO @ level of 575. Now the stock is on daily trend above the 50 EMA. Target level as marked in the chart @ level of 590 to 600. So add the stock in your watch list to see the price action movement in the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can...
The stock has many tail that is it shows price rejection.
Already formed a triangle pattern break was up-direction.
Then followed up with impulsive wave and corrective wave.
Currently the stock is near the small support line.
Below the support line 535 can be consider as bearish.
Buy 538-540 level target 554 to 568. stop-loss 10 point or based on your risk.
Clearly, We have seen bearish trend in TechM share . The stock is trading below the 50 EMA. . More important we have seen the fallen window pattern during the last trading session so this will increase the probability of more bearishness in the stock. Thus we can take the short entry below the 550 level for the next target of 540. As we can see the Major support...
Expected Upper Breakout
1. Expected Breakout in Wedge Pattern line in Daily chart
2. Breakout in OBV
Long Bank of Baroda with a target of 570 and 600 for 8 to 10 days.
SL around 505