A Clear DownsideA Clear downside it doesn't have potential of upside so it show in the downside due to very high PE and mutual funds slow dump the stock to individual to make a profit. there is recession going on UK so this stock kind of week and it will touch 1100 to 1000 will be on mid-april or may month possibility to touch.
TECHM trade ideas
Techm buyTechm mei side buying kar sakte hai agar ye support levels and trendline ko hold krta hai mere Jo pass mere set-up k according ek confirmation hai second is week mil skta hai .
Agar aapko Mera analysis acha lagta hai toh aap mujhe follow kr skte hai and mer previous analysis bhi dekh skte hai Jo Maine intraday k liye kiye the
Tech Mahindra Strong candidate for revershal 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 mentioned factors, one can buy this stock in futures by holding 1300 and 1340 CE Feb or Mar expiry or in cash for next leg of move for 1500 and 1600 levels.
Trend setterTech 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 bullish rally could be on the charts with 1335, 1350 levels being T1,T2 for the hopeful bulls.
TECHM | Swing Trade📊 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)
Sector PE : 36.64
Beta : 1.08
📚 INSIGHTS
Mid-range performer
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
5.33% away from 52 week high
Outperformer - Tech Mahindra up by 1.58% v/s NIFTY 50 up by 0.77% in last 1 month
📈 FINANCIALS
Piotroski Score of 5/9 indicates Average Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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Tech Mahindra price movement analysis on weekly timeframeTech 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 should be the one in your portfolio, Invest in parts as the price consolidates and retraces.
Swing traders should ride this stock by using 20-50 EMAs
Investors or positional traders use 50-100-200 EMAs.
Stop loss @ 1200/-
techmfor 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: only for educational purpose
RULE: 1: always trade with stoploss
2: decide your risk per trade and per day
3: believe to your analysis
4: stay positive and keep patience
technical analysis + money management+ physicalogy = successful trader