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...
Tech Mahindra breakout or breakdown level
Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai. Tech Mahindra is a US$6.0 billion company with over 158,000 employees across 90 countries.
Day Chart/Weekly Chart/Monthly Chart
It is showing that the downtrend is breakout and starting uptrend, need to first confirm @ 1100 when crossing then buy. The range of buying price is @1100 to 1110.
The first target price is @1575 (43%) and the time period is 3 to 6 months.
The second target price is @1839 (66% Return) and the time period is 3 to 6...
📈 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...
Bearish Engulfing on Day candle that means this stock is weak.
If in coming days we 1440 or 1420 breached then we can short until our target met.
Initial target : 1401
Exit Trade : 1364
NSE:TECHM
Trade Setup for 07-03-2022
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...
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...
![TECHM: Simple Trade Setup | TECH MAHINDRA | 07-03-2022 [INTRADAY]](https://s3.tradingview.com/4/4IMQu6E5_mid.png "Simple Trade Setup | TECH MAHINDRA | 07-03-2022 [INTRADAY]")
![TECHM: Simple Trade Setup | TECH MAHINDRA | 19-10-2021 [ INTRADAY]](https://s3.tradingview.com/o/OhePQ1pu_mid.png "Simple Trade Setup | TECH MAHINDRA | 19-10-2021 [ INTRADAY]")