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Techmahindra

NSE TECHM: Multiple Timeframe Analysis ---------- Timeframe: Monthly---------- After making an all-time high(ATH) in 1838 , prices have started collapsing to correct the previous move. The fair value area has given two resistance on the upper band, and four supports on the lower band of the channel. Excess is showing that sellers are very aggressive with their inconvenience levels. Key Level clusters: 1) 995: -  Fibonacci level of 61.8% - A lower band of the parallel channel - Monthly support level 2) 764: - Fibonacci level of 78.6% - Monthly support level at 747 These are Strong reversal zones for tech Mahindra. If the price takes support at this level, we can see an impulsive move in upward direction. Breakout of the channel will lead to 2nd key-level and more bearish. ---------- Timeframe: Weekly---------- The weekly timeframe gives information about the bearish atmosphere. Price has formed head & shoulders on the weekly timeframe. Supply pressure has broken down the neckline with a retest at 1302 . H & S target measurement says that price can fall up to 955 . (Base scale: distance from head to neckline) ---------- Timeframe: Daily---------- After creating a high of 1838, the price has to fall for the corrective phase. Price has completed the corrective wave (B) and started occurring wave (C) of the correction phase. We are clueless about trend reversal because the price is out of the parallel channel. If the price sustains below the lower band of the parallel channel. Traders can trade for the following targets: 1064 - 1006 - 995 . Please note that 955 is our monthly support level, so we can also initiate the buy position when the price sustains above it. The entrance of price into the parallel channel may lead short-term bullish perspective.  I am not admire falling knives. If the price enters the parallel channel, traders can buy for the following targets: 1180 - 1234 - 1299 . Trend change is unacceptable until the breakout of high of wave 4 of lower degree. I will upload further information soon.
NSE:TECHM
by forextidings
2
Tech Mahindra Chart Analysis !!📈 Tech Mahindra 📉 My Findings :- 1. Breakdown of Strong Support Zone. 2. Lower High and Lower Low Formation. 3. Close Below Seven Months Low. 4. IT Index also week. Check Chart below. Bias- Short Target- 1175 and 1046 SL- 1429 RR- 1: 2 IT Index Chart :- All Important Supports and Resistances are drawn in chart. All levels are on closing basis. Please have a look and revert back if you need some more study on it. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:TECHMShort
by ShelendrAgrawal
Trading further downtrend in TECH M through swing in PUT optionBasic Technical Analysis - 1. Scrip is in a downtrend, following a parallel channel on Daily TF. 2. Recently gave a breakdown from a long term (June'20) trendline. 3. Bounced back from higher TF (weekly) demand zone after breakdown. 4. Other marked DZ (green), SZ (red) levels are respected. 5. 2nd demand zone & approaching 200 EMA might now act as resistance in short term. Trade a 75min supply zone b/w these two higher TF demand zones. Options Trade - 1. ENTRY / TARGET as per spot chart - 1325 / 1275 2. SL using spot chart - 1350 3. RR - 1:2 4. Strike Price - TECHM 26 MAY 1260 PUT (little OTM having good OI) Other considerations - 1. Select strike price & set SL according to option capital needs, your risk appetite & market sentiment at ENTRY. 2. Time based SL not needed as this trade has the possibility to get over in just few days. Still can keep 50-55% of ENTRY - SL (in spot chart) as your SL. 3. Tech Mahindra Q4FY22 earnings is on 12th May'22.
NSE:TECHMShort
by ht_rohit
2
Magical Parallel Channel : Dynacons Sys SolutionDSSL BO with huge volume with support/demand zone found on the magical Parallel channel. Stock is finding good support in the zone of 250-260, rest we can plan the trade as levels mentioned on the chart Case Study 1 - Reliance Industries - Long Term Magical Parallel Channel : we can clearly see the price has respected the parallel channel in a magical way, 1996-1997 3 point touch parallel channel support HELD in 2015-2016-2017 & Mar 2020 crash too. #relianceind Case Study 2 - Tata Steel - Parallel Channel worked magically in the Tata Steel were price went strongly through the ceiling of parallel channel, creating another parallel channel guided to capture the whole rally in #TataSteel Case Study 3 - Havells - Initial Parallel channel was drawn from 2003 base and connected to 2009 low, stock found buyer on the same parallel channel in 2020 crash, even late buyers could have mad +234%. #havells Case Study 4 - Nifty - Same Parallel Channel can Help to enter the larger trend by using it in the correction phase, examples are Case Study 1 - #Nifty Case Study 2 - #Techm(Tech Mahindra) Conclusion : Parallelchannel is one of the most powerful tool in the TA & it can be very useful in finding trend and riding most of it. Hope above examples help in your trading decisions in future, if you find the work useful do LIKE, SHARE & COMMENT... Wish You Happy & safe trading Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. "Always Respect Risk" Happy Trading Jai Hind Jai Bharat
NSE:DSSLEducation
by DhirajSinghBais
2