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TECHM trade ideas

TECHM SHORT???TECHM has formed a clear Head and Shoulders pattern as depicted in the chart image. The neckline around 1350 is broken conclusively. I'm not a great believer of H&S always achieving targets but technically speaking, TECHM is a short with SL at recent swing high of 1300. The first target would be at Gap support line around 1163 which if & when broken should see TECHM dipping to 1026 levels which is approximately equal to the height of the Head from the neckline. IT sector seems to be taking quite a hit recently. Nasdaq has plunged heavily in the USA also. Let's see how all this pans out eventually. Of course, this analysis (and H&S pattern) will be negated once TECHM starts trading above 1350 levels comfortably on closing basis. The market is supreme. This is for educational purposes only and not to be treated as a recommendation to short TECHM. I'm not advocating bottom fishing either.
NSE:TECHMShort
by lokhandi
Weekly log scale . Depth of corrective waves (1) Wave (iii) is a wave with a 1st wave extension . It has corrected by wave iv till 38.2% . Wave iv has corrected to wave ii of one lesser degree as per Elliott guide line regarding depth of corrective waves . (2)See the alteration between wave (ii) - Flat and wave (iv) - Zig Zag . (3) Also see the weekly hammer . (4) As per Neo wave guideline a corrective wave i.e wave iv will be retraced by more that .618% .Later on we will see whether this becomes a triangle or not . Buy with a target of 1482 with an SL of 1040, Its a multi day swing trade Regards
NSE:TECHMLong
by AJAYSHARMA
Tech Mahindra reversal play for June monthCan we see a reversal on cards from next week? the grey horizontal support is crucial as close below this means booking your loss... price is also resting on an ascending trendline support...therefore might rebound upto 1330 level where resistance comes... one can take position for the month of June but it will take just one aggressive move by russia or china to spoil the carefully laid plans of the mutual funds to sore up their performances at end of Q1 so be wary of all long trades and track them even more closely
NSE:TECHMLong
by Rocky_Chow
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.
NSE:TECHMShort
by ShelendrAgrawal
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.
NSE:TECHMShort
by ht_rohit
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