I was about to post this by Monday itself, but went on with other stocks, anyway now you have it in TechM. May be if you are conservative enter on Pullback & Enjoy the game !
As per the weekly charts, TECHM is strong and bounced off from support level. Buy for the targets of 500 and 550. Accumulate more if it goes below 400.
Forming a Cypher pattern in Techm -2.79% . Long positions can be taken @428 level if it sustains in that range for a immediate target of - T1 (460) , T2 (471) , T3 (482) . SL 405
RSI Indicates that it is going to enter the oversold zone. May bounce back sooner.
Immediate support @ 445 - 447. If it breaks this level long positions can be initiated
It is been observed on the hourly chart that the price action is forming higher highs and higher lows indicating a trend moving to upside. Now, it has further broken above the prevailing resistance level of 507-510 and now further move to 520 levels to fill up the gap zone.
Target: 520
Stoploss: 500
It is been observed on hourly chart that the price action breaks above downward trend line indicating a further move up. It shall now retrace back to 50 fibs level at around 475 levels.
Tech Mahidnra after breaking the downtrend has been trading in uptrend channel respecting support and resistance, it closed on wednesday at support of channel and may upside from this level towards the channel resistance somewhere between 508-510 in near term. trades may enter long on this stock keeping in view of breakout downside.
TechM has Probably Made a Double bottom Around 405 to 407 Levels on Weekly Charts.
Daily Trend has Change to upwards. Closing Above 456 would take him further to 483 Levels ( 50% of Swing Range )
Its a Worth Buy and accumulate at Current level From 440 keeping a Exit Level @ below 427 on Closing Basis.
A Short to Medium Term Trade.
It is been observed on daily chart that the price action is breaking out from a downward trendline with an uptrend channel formation. It is slowly and gradually moving up the price levels while respecting the resistance and support levels of the said uptrending channel. It shall further move up to the next resistance level at around 460-65 levels.
Target:...
Tech Mahindra after breaking down trend channel has retested the former level again and its a good opportunity to enter long on this stock. it has confirmed trend reversal and now trading in bullish channel, Risky Traders may enter long at CMP with a target of 471.00 and conservative traders may enter slight lower price for better entry and small stop loss, in...
Tech Mahindra trading in its bearish channel, and continue to struggling to break channel but unable to break channel to move upward, we may see a slight upward movement up to its channel resistance 440.00, if it breaks 440.00 then trend will get change otherwise it will target to its long term support 407.13, this level is very crucial and will decide further...
After a breakout from a big rectangular consolidation, it signals a sell for now to a target of 480. The target has been measured (as shown in purple arrow) that matches with support levels. keep a Stoploss 1 499
Hi Guys,
We have simple bearish trend continuation setup and TECHM is facing some good resistance around 500 levels, as per my trade plan its good to go short from here with targets around 480's.
Hit Like button to keep me motivated to post more ideas...Thanks for your support !
Happy Trading !!
