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Techmahindragolong

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
TECHM - Clear Breakout 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:TECHMLong
by PrakWorld_Traders
Simple Trade Setup | TECH MAHINDRA | 19-10-2021 [ INTRADAY]NSE:TECHM Observations: 1) On 1 day time frame, it took good support from 50DMA and also broke 21DMA and closed above resistance range 1465-1475. Now this range should work as support to maintain its bullish momentum. Please refer below chart : 1day Time Frame. 2) On 1hr time frame, we can see double bottom pattern. Please refer below chart : 1hr Time Frame. ------------------------------------- Trade Setup for Date 18-10-2021: Most of the levels will remains the same as per previous setup. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:TECHM
by Trading_hawk