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...
#TECHM formed Rounding bottom and broken the resistance with good volume and sustained above 1530 level
Above 1550 sustainability will give good momentum one can try the same level CE post confirmation.
Have a Happy trading !!
Tech Mahindra , one of the IT giants , may move up soon and break the resistance level. It has retested the resistance or the supply zone multiple times, now when there is a breakout of this zone and if it is supported by big volumes , one may go long . Also, we find a bullish marubozu candle near the supply zone which indicates that buyers are strong , but one...
TechM Mahindra looks bullish on chart with immediate target of 1080 with conservative SL of 1027 . It's already buy on ichimoku cloud for some time now, its trending upwards in MACD and now has given good breakout over trend line.
Note: This is for educational purpose only.
21 EMA is above 55 EMA which indicates short term uptrend. 21 EMA has been acting as dynamic support previously as well.
Moreover, there seems to be a bullish engulfing on 21 EMA. RSI above 60 indicates bullish momentum.
Buy Tech Mahindra @ CMP of 726
Target - 736, 746 SL - 716
(Resistance at 730 - 732.2 Zone)
Stock is moving in up trending channel. Expecting continuation of trend after retracement.
Trading near trend line & Moving average support.
The stock has many tail that is it shows price rejection.
Already formed a triangle pattern break was up-direction.
Then followed up with impulsive wave and corrective wave.
Currently the stock is near the small support line.
Below the support line 535 can be consider as bearish.
Buy 538-540 level target 554 to 568. stop-loss 10 point or based on your risk.