Tech Mahindra Bullish Bias Set UpConsolidation Breakout on charts
The stock has been consolidating for a while
Breakout after closing from Box
Target 1500s
Stop Loss 1075
Buy above 1290 absolute conviction
TECHM trade ideas
TECHM - Long Trade Idea#TECHM has recently broken above an important Fibonacci level and may continue to progress further. Price action is supported by a spike in volume around 78.6% level along with RS showing a positive crossover above the zero line.
TECHM 🛫Gap down opened on 27.07.2023 after earning a report on that day indecision in market participants formed a neutral candle at both sides and tried to break the zone. On 28.07.2023 candles just formed inside the previous day candle show signs of aggressive sellers absence. On 31.07.2023 buyers entered the zone and drove the price above 27.07.2023 open shows +ve sign. 01.08.2023 A good number of buyers entered and drove the price further. But note volume is less than the previous day. Today crossed resistance 1140. Tomorrow 1140 zone will act as support to drove the price further in +ve side.
Bullish on Tech MHigh probability Tech M will go bullish, levels mentioned in chart. This is my own analysis.
Best Stock reaching for cheap price If possible We catch thisBest Stock reaching for cheap price If possible We catch this Strong Support 1000 Breaks 950.
Good for future. Worst result may hurt, good for long term holders.
TECHM - Rounding bottom breakout - 15% upside potentialTECHM seems to have formed a nice bottom and giving breakout from 1160 resistance levels.
This can be seen as double bottom breakout and as well as rounding bottom breakout.
Target: 1340+, 1570, 1800.
SL: Daily candle close below 1160
LONG TECH MAHINDRAIT is on its Baby phase, Tech Mahindra has been consolidating for long, here is the breakout of its consolidation zone. One can enter here.
Disclaimer: I am not a SEBI Reg. Analyst. Please do your own research before trading or investing.
one year long Triangle Finally the Triangle in B, seems got completed.
Should head towards south to complete its C in 5 waves.
not looking good for now.. but eventually when this correction gets over may be in couple of months or so...we can start accumulating this stock.
Solid Breakout in Tech Mahindra after a long Accumulation PhaseHello Traders and Investors, i hope you all will be doing good.
I have brought an analysis on Tech Mahindra, i hope it will be beneficial to you guy's,
So let's start:-
As we have seen a Neat and Clean solid Breakout of Tech Mahindra stock after a long Accumulation Phase.
Do you guy's know What is an Accumulation Phase?
Okay i will write what i know about it.
Notable Characteristics of Accumulation Phase:-
It shows that strength is building into security.
The security starts trading in a well defined range, moving between the upper and the lower band of the consolidation.
Market participants start becoming bullish on security in the accumulation phase.
The Price starts moving in a range indicating that the price of the security is bottoming out.
This phase indicates that a fight is happening between buyers and sellers and eventually, buyers take over sellers towards the end of this phase.
So guy's i think this (Accumulation Phase) is clear now. So, Guy's same thing we have seen in Tech Mahindra stock also, earlier trend was Downtrend then Accumulation Phase, now as we have seen a breakout in it. So we can assume that now the trend will shift in uptrend.
I have marked everything on chart like, Entry point, Targets and Stop loss. Please check chart for the levels.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
'TECHM' Wave Counts'TECHM' Weekly Wave Counts
completed a 5 wave structure from the low of 2009 and
now the correction phase is ongoing.
It should retrace at least 0.382 of the previous wave which is nearly at 470.
Which means more than 50% move could be seen to downside from here.
Trade at your own risk.
Happy Monday.
Long term good stock For long term looks positive with retracement level on weekly time frame and monthly time frame.
IT going to boom ahead as it is underperforming till now.
Tech M BO on weekly timeframe1>Weekly time frame BO from long time consolidation
2>BO with good volumes & now retesting the supports
Tech mahindra possible bounce Tech mahindra re-testing the breakout level, there is a chance that we see a bounce from here in the stock.
TECHM#TECHM has retraced to the breakout (BO) zone and appears to be finding some support at that level. It might be a good opportunity to consider entering a long position on a bullish candle with a stop-loss (SL) set below 1060 to manage risk.
techm - buyBuy around 1245
sl close below 1235.6
easy tg - 1270
Disclaimer : This is my personal analysis for study purpose not intended for trading.
TechM BreakoutThe area around 1155 (yellow horizontal line) is an important resistance on daily timeframe
It was broken on 5 july with higher than average volume
The next immediate resistance was 1199 (pink horizontal line) , which is now broken again with a good higher than average volume
On a 2 hrly time frame , inverted H&S pattern has also been formed (neckline is blue line on the chart)
The next immediate resistance are marked as white horizontal lines
SL keep below shoulder 1160
Conservative Tgt around 1266
can increase trgt towards next resistance of 1284 and further based on candle and momentum
The rise in ATR on breakout also provides confirmation
TECHMWeekly range breakout with a confirmation candle. Awaiting a retest around 1180/1200
Buyable at dips for a good target of 15% to 20%
Track TechM
Formation of Diamond Bottom Pattern in Tech MahindraThe Diamond Bottom pattern is a technical analysis pattern often used by traders to identify potential trend reversals in financial markets. It is characterized by a series of higher highs and lower lows that form a broadening pattern, followed by a narrowing trading range and an eventual upward breakout.
During a downtrend, the price action forms higher highs and lower lows, creating the broadening pattern that resembles a diamond shape. This indicates uncertainty and consolidation in the market as both buyers and sellers struggle for control. However, as the pattern develops, the highs start to peak and the lows begin trending upward, narrowing the trading range.
The significance of the Diamond Bottom pattern lies in the breakout that occurs when the price breaks upward out of the diamond's boundary lines. This breakout is considered a strong indication of a trend reversal, signaling the start of a new uptrend. Traders who recognize this pattern may take it as a bullish signal and consider entering long positions or buying opportunities.
It's important to note that while technical analysis patterns like the Diamond Bottom can provide insights into market behavior, they are not foolproof and should be used in conjunction with other analysis techniques and risk management strategies. Market conditions and other factors can always influence the outcome, so it's essential to exercise caution and conduct thorough analysis before making trading decisions.
Note for everyone who came across this reference:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
$NSE:TECHM - Triangle breakout Educational purpose
NSE:TECHM loking bullish now breaking his triangel breakout
we could see good up move.
TECH M 17/07/23Levels according to me
For Education and training purposes
Any views about this are welcome
BREAKOUT, TECH MAHINDRA, 45% RETURNS!!!BUY - TECH MAHINDRA
CMP - Rs. 1175
Target - 1: Rs. 1460
Target - 2: Rs. 1704
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Timeframe - Target - 1: 2-4 months, Target - 2: 5-8 months
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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TECH MAHINDRA | BREAKOUT🚀🚀🚀SWING TRADE OPPORTUNITY
Stock has corrected last year by approx 50% from its high, and then consolidating from last year. Stock clearly gives breakout of this consolidation to give some good upward move.
It is constantly taking supports from moving averages.
Note: All IT stocks like infosys, TCS, etc seem to be giving new breakouts, looks like new uptrend has just started in this sector.
