Simple Trade Setup | TECH MAHINDRA | 07-03-2022 [INTRADAY]NSE:TECHM
Trade Setup for 07-03-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
TECHM trade ideas
TECHMIf you want (price action) of any charts then drop the stock keyword in the comment section.
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Note: Don't trade without stoploss because risk management is the main key in trading.
Disclaimer: I'm not responsible for any loss that you have made from this post. Do your own research then invest.
TechM 200DEMA and Strong support confluencePrice retested support recently and it happens to be 200DEMA, with the confluence of both strong support and 200DEMA it should be very less probability that price will break support and bounce might come from there to push the price to resistance at 1472.
Not a recommendation to trade
📊 #TechMahindra Swing Trade Opportunity 🎯NSE:TECHM
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
This Chart is just example that how Harmonic Works.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
Powerful RS SignalsRS (relative strength vis a vis Nifty) gave a sell signal much earlier than chart breakdown. Here the RS is plotted for short term as well as longer term, both have given sell signals, short term one indicated earlier. Also the CRS shows a classical pattern where the down-trending line fails to cross the average line.