TECHM trade ideas
TechM consolidatingTechM – buy near 805 support zone and sell near 880 resistance zone.
Indicator used TE REKAB, it captures reversals in the market. Captured easy Rs. 9 per share effectively in above chart.
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This is my personal study. Please take advice from your financial advisor before investing.
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Tech Mahindra - Shows sign of reversalNSE:TECHM Chart is showing bearish signals, indicates pullback.
MUlti-year Blue Sky Zone Breakout in TechMahindraBlue Sky Zone Mega Breakout means all time high price breakout in TechMahindra stock . Stock has try to breakout in Feb. 2020, April 2019, Feb 2019 but not succeed. In Feb. 2019/Sept. 2018 stock has broken high of Rs 740 of year 2015 and make new high just close to the same after share price falls from the new peak. Now, share gives multi year breakout and IT sector is already providing strong rally. The company consistently providing good profit results from last five years and providing average five year revenue growth of 11% and cash rich company. My Fist Target is Rs 960 and second target Rs 1050 and third target Rs 1140 with Stop loss of 710-720. Long term investment horizon for 3 months to one year.
#LETSTALKABOUTMARKETS - Tech MahindraTech Mahindra seems exhausted now and is not participating in the Amazing IT rally that we have seen. It can be considered the weak link in the It index even though it has given a wonderful return. Technically TechM has closed with a graveyard candlestick which indicates a reversal in the uptrend. One can enter into a short position around 870-875 with a strict SL of 910 and for a target of 800. It also has a negative RSI divergence as marked in the charts.
Do like and comment your views. This is my personal opinion and purely for educational purposes.
TECHM long term buy signal if it breaks 851 resistance.The price has not been able to move above 851.
851 is major resistance for TECHM if the price breaks the resistance
we can see upward move up to 1120 if it does not break the resistance
then the price may fall up to 540.
IF THE PRICE BREAKS THE RESISTANCE (BUY)
Entry : 851
Target : 1120
Stop loss : 840
IF THE PRICE DOES NOT BREAK THE RESISTANCE (SHORT)
Entry : 851
Target : 540
Stop loss : 860
Major resistance Break, firing in uncharted territoryIt breaks a multi year resistance. Spread chart shows a breakout before than the stock itself. It has shown Relative strength (not RSI) wrt to benchmark index.
It is showing same chart formation as KPIT tech, TCS, Niit LTD. All three have given a spectacular move.
IT sector also in flavor.
