TECHM LOOKING FOR BUYING IT'S TIME TO BREAK THE WEEKLY RESISTANCE IN TECHM.
STRONG CONSOLIDATION AT RESISTANCE.
IT'S A CLEAR SIGNAL TO BREAK THE RESISTANCE.
TECHM trade ideas
TECH MAHINDRA WEEKLY CHART TECH MHINDRA POLE AND FLAG PATTERN BREAKOUT , TGT 1125-1130 , SUPPORT AROUND 1035-1040
TECHM: A Bearish Trend"
TECHNICAL ANALYSIS OF NSE:TECHM
The LAST CLOSE PRICE of NSE:TECHM is 1080 . The PARABOLIC SAR is showing the SELL SIGNAL with TREND as DOWN TREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.236 at the FIBONACCI STOCK PRICE LEVEL of 1080. From here, the Key Support and Resistance levels are SUPPORT 1 at 250.07, SUPPORT 2 at 1094 with RESISTANCE 1 and RESISTANCE 2 at 1034.4 and 997.4 respectively. The Key 50% FIBONACCI LEVEL stands at 1015 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not.
The STOC RSI has the values K and D as 22.11 and 22.52 respectively. At this level it the status is WITHIN OVER BOUGHT AND OVER SOLD RANGE. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 18.8 and 7.08 at 19.6 along with HISTOGRAM showing values of -0.8, the STATUS is clearly BUY CROSSOVER NEARING IN.
The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at -0.14 and 0.03 with UPTREND as TREND CHANGED TO SELL. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.1768 the STATUS is WITHIN OVER BOUGHT AND OVER SOLD RANGE.
No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, however the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 21.47 which signifies its Price Level to be AVERAGE.
>>> RECOMMENDATION is : SELL ."
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
Techm breakdown and retestThe stock break the major support (dynamic support )
we can expect fall in the upcoming day but
ill prefer to buy on dips coz its over all good company (long term view)
short term sell on rise
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Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
TECHM - PENNANT PATTERNActually, In weekly time frame it forms PENNANT PATTERN. Expecting BOOM Action in next upcoming days. Keep in Rader
Science Backed by DataTechM Series: TechM looks BullishTechM 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.
TECHM: Prepared for news highs After a considerable correction as a running flat , TechM is ready to break the recent high to trade above the all time highs in the uncharted territory. The correction was assumed as a fourth wave correction & the current rise can be considered as the fifth wave.
Trading strategy:
Buy techm with sl of 1020 for tgt of 1140-50.
TECHM ShortA break below 1068, stock might make a downward move towards 1060/1054/-
Trade void if stock continues upward movement above 1075 post the break .
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position.
watch for ath breakoutkeep a track on techm for all time high break. if the level is taken out we can see good move short term thankyou
