Tech Mahindra - Long Setup (Swing Trade)Tech Mahindra has confirmed a breakout above the entry zone, setting up for a potential swing trade. Here’s the trade setup:
Entry Price: 1654.85 (Confirmed after the 15-minute candle broke above the entry zone at 1640.25 )
Target: 1785.05
Stop Loss: 1567.85 (Stop loss will be triggered if a daily candle closes below this level)
With the entry price confirmed at 1654.85 , the setup offers a favorable risk-to-reward ratio. The stock is targeting a move toward 1785.05 , with a well-defined stop loss at 1567.85 for risk management.
Disclaimer: This post is for educational purposes only and is not financial advice. Always manage your risk and trade responsibly.
Techmahindralevel
TechM Fair chance of Correction
Price has reacted to a Fresh 3 Month Supply also there is a fresh 6 Month Demand formed,
Hence we are expecting a Correction.
After reacting to the Fresh Quarterly Supply, as per Weekly chart we have drawn trend-lines which also show the Support and then we see Price has violated the Support forming a new low, which indicates the sellers are coming in Power,
Considering the previous low violation and the 3 Months Soucre Supply this is the Short position.
TECHM--Bearish view??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.
TECHM Low Risk High Reward IdeaNSE: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.
TECHM looks good for upside momentumHey 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 be done in Intraday tomorrow.
BUY ABOVE: 1555
Target:1575 and above as in charts, one can also aim for ATH(all time high)
RSI supporting
MACD showing bears retreating
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Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.