Tech M - Bearish1650 - 1670 strong resistance area
Stock getting pushed once again from same levels
Can fall on every rise
Expecting 1610-1600 levels to be touched again
Techmahindrashort
#TECHM downtrend movement potential with risk:reward ratio 3.8#TECHM downtrend movement potential with risk-to-reward ratio 3.8
Symbol :TECHM
Time frame :4 hours
Analysis:Moving average 6 is below MA 20 && MA 20 is below MA 40.Break out from a symmetrical triangle on a down trend side. SO,we can expect a target up to 900 .
Sell call details : SELL below 1000 with stop loss 1037 and We can expect first Target to be 940 and second target is 900.
HOPE our analysis is adding value to your Trading Journey.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
Tech MahindraTech 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 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.
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.
