Techm Would Likely to Be Touch 1200 To 1150 To 1100 Even Lower Would Be the Possible Scenario in Upcoming Month So Maximum Stay Out of the Stock for A while
As per daily layout of the chart, the following is noted :-
1. Stock standing at centre line of MACD, which is a sign of revershal.
2. The stock in uptrend and whole sector is making higher high and lower low.
3. Stock at its support line 1300, sign of revershal.
4. RSI rising and at 50, shortly 55 and 60 can be crossed.
5. keeping in view of the above...
Tech M is at a very interesting level at the moment. It'll be crucial to watch which way it moves from this zone between 1305 and 1318 levels. If it breaks downwards, which in my view it would considering the volumes, then we can see a bearish setup with the 1280 and 1262 levels being tested.
If by some miracle it breaks out of the zone in upward direction, a...
In the Weekly Chart of TECHM ,
we can see that; it has created a Halt candle after retesting the Cup & Handle breakout.
Enter on breaking its high with low as SL.
If price falls to previous strong support, it may bounce back with some momentum.
But stick to your own trading strategies and confirm the set up.
Price is trading now at NO TRADING zone.
Think, wait, watch out and trade smartly.
All the best.
📊 DETAILS
Sector: IT Services & Consulting
Mkt Cap: 129,441 cr
Tech Mahindra Ltd provides comprehensive range of IT services, including IT enabled service, application development and maintenance, consulting and enterprise business solutions, etc. to a diversified base of corporate customers in a wide range of industries.
TTM PE : 35.97 (High PE)
...
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...
for intraday stock looking good above 1401 see the price action stock face 3 times resistance on same level 1400 first time seller push the price lower level 2nd time seller unable to push price at lower level and 3rd time same price hold higher level means buyer is strong once price trading above 1400 seller will trapped new buyer is enter price will boom
NOTE:...
#TECHM broke out from stage 1 a few weeks ago and has been retested the BO zone a couple of times. The stock is on the move and looking good to make a new high.
techm price action showing strength create support and making higher low looking good above 1246.50 for intraday trader always trade with stoploss follow risk management stay positive
keep patience believe yourself
NOTE: only for educational purpose
