Tech Mahindra is making a really interesting and clear price action.
1. 2022 to mid 2022 - Lower high lower lows
2. mid 2022 to mid 2023 - yearlong box consolidation
3. Fakeout in July 2023
4. Real breakout in August 2023
5. Retest in November 2023
6. presently in higher high and higher low.
If you are interested in investing(long term) in IT sector, this stock...
Techmahindra has been consolidating for a year.
The break out on closing basis has been done. currently retesting.
Once the retest is successful. we can go long
all the levels and analysis is for educational purpose only. use them at your own discretion
we can see a wave 1 - 500 to 1800 , in this wave we can see a good retracement of .618 and price is also taking support on a major trendline. AB=CD can be form
a good consolidation or a pennant pattern also can be seen .
if we sit in this trade on the sl of 900 we can definately seen a return of 100% in this script
TECHM now Trading above 21 & 55 emas, successfully crossed 200 ema and retested now in dcb chart. As per drawn Fibonacci Extension, short term Target would be 1195-1205 and mid term target would be 1340-1370. Those mentioned zones are vital resistance zones also.
Disclaimer - this chart analysis is only for educational purpose. Do proper study before taking...
Chart prediction is on Monthly charts and long term view if it follows this pattern
Similar to Wipro even Tech Mahindra is probably making diamond chart pattern.
The Fibonacci retracement support is taken at 78 percentile and consolidating since couple of months.
The Long term target in 1 to 1.5 years is 2000+
Go long once the stock closes above 1165 on...
As we can see techm breakout on daily timeframe with high volumes. After the retest it will be ready to boom on the long side.
I'm bullish on this stock
What's your opinion?
Happy trading.
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.
Tech M Daily TF Breakout we are seen from last few months it stock not moving much cause of some crisis if we are seeing on like chart if it starts to move it can make nifty to rocket like
Parallel channel breakout @ 1100 (17 Aug 2022)
1) The first target is @1370(20% if buying @1130)
2) The second target is @1570(35% if buying @1130)
3) The third target is at an all-time high @1815(60% if buying @1130)
4) Stoploss @990(14% if buying @1130)
TECHM; good opportunity to start sip or invest in bulk fo quick 10 to 20 percent gains; no sl; fundamentally strong; don't run after penny or momentum stocks; hit like
Tech Mahindra is at its previous Trendline resistance zone and it remains to see if it can make it a support now.
A breakdown can take it lower to dotted black trend support levels.
Considering the strong quarterly results by Accenture as well, and good Margin of Safety here, one can accumulate slowly.
PE levels are near historical 10 year levels and a good...
---------- 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...
