this stock is falling now..
we have a strong support lies at 1200 range...in the form of trendline and neckline both are strong, multiple times price takes the help of trendline support...
Head and shoulders pattern is also detected in this stock price.
a strong breakout is observed from neckline...
so keep looking for long in this stock from neckline for the...
Tech Mahindra looks good for buy now as it has broken the recent resistance of 1180 and now moving towards next zone of 1311 in a bullish manner, the long term goal can be to hold it till the 1560 levels, as there is a gap near the zone which the price will try to fill out.
Price is now at resistance zone, and turned to be bearish side..
On the other side we have a bearish channel,
every trendline on bearish channel tries to push the price upside...
the last trendline is stronger that will take the price again upwards..
wait until price falls below these line and retrace...
if failed to go higher a strong fall will observe.
Observations:
----> Trendline Broken. May again retest to trendline.
----->> Strong Rise from Previous Support, leaving a demand zone @1020-1035 range.
------>> Bearish gap may be fill.
I think bottom is in as 1000 is the strong support. Planning to build some position and see if it goes as per the plan. Bit risky as this share have been not having much momentum lately.
Price hasnt shown violent downward moves here as compared to the other IT stocks, The Reward to Risk ratio been amazing suggesting to Buy!!!
ENjoy!!! Cheers!!!!
NSE:TECHM has been corrected 61.8% as per Fibonacci. I will be best to take entry at level of 993 with stop loss of 943 (-50 Points Risk Only).
Upside I can expect is 1067 & 1150. This could be low risk and high reward idea.
Note: This is my personal analysis, only for learning. Thanks.
Price is nearing accumulation level as per the Head & Shoulder pattern technical target.
Sound fundamentals with almost zero debt will make it soar in next bull run.
Good to accumulate around 850-920 levels for the following targets:
Short term swing target @ 1275 (43% ROI with 4.28 R:R)
Medium term swing target @ 1620 (82% ROI with 8.1 R:R)
Long term...
After huge downfall expecting bounce from demand level
Purely for investment
key Levels are marked
NOTE
Am not Sebi Registered
All level marked for education purpose
There is a formation of a shark pattern on the daily chart of the stock.
Currently stock is trading in the PRZ of the pattern.
We might see some pullback in the stock.
Short-term trade
Resistance: 1386- 1410
Support: 1290-1300
Currently at a very crucial support zone. If it bounces back from this level, it will be a good stock for the upcoming weeks.
If it completes the double bottom formation, we can also see it going above 1570 levels.
Trade safe. Manage risk. Be profitable.
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Yesterday techm trendline drawn failed.
Descending triangle pattern is a bullish signal if it breaks out the pattern.
It can give a good upmove before it breaks the triangle.
On an hourly time frame it is respecting 0.618 (golden level) of fibonnaci retracement.
Its forming a desending triangle pattern on 30 minutes time frame.
A bullish breakout may give a good move.
Hey guys!
The few last stocks I gave have all the target except ICICI bank which is still consolidating.
This TECHM was bought to us on right time today by one of our member of the small group of traders and I also analysed it & it definitely looks good to me too.
All the info for buying has been provided in the chart above along with the targets, this can also...
Probability and possibility of this trade I will prefer possibility and that's what am looking this week else am not trade this pair i will look my other trade ideas. wish you all the best
