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Tech Mahindra LimitedTech Mahindra LimitedTech Mahindra Limited

Tech Mahindra Limited

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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.
NSE:TECHMLong
by SBPraveen
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.
NSE:TECHMLong
by TraderRahulPal
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
NSE:TECHMLong
by zenni_10