Seems like a bullish Flag PatternTechm Seems like a bullish Flag Pattern.
It can move on the upside for a target of 1084++
should maintain a stop loss below 1015 positional.
Bullish in this counter buying avg 1025-1018
TECHM trade ideas
TECHM - Tech MahindraLevels -
Buy - 1014+
T1 - 1040
T2 - 1080
SL - 990
Indian IT Sector stocks are hitting all-time highs. Keeping this undertone in mind, TECHM is a strong candidate to buy due to the following reasons:
1. So far TECHM has not participated aggressively in the rally
2. Organization has seen some major tie-ups with large tech companies in the previous quarter
3. Flag pattern can be seen on daily charts
4. Trying to cross its 25 and 50 days EMA.
The stock has a strong supply zone of 1008-1014, post breaching these levels on the upside, TECHM can see a rally up to the levels of 1040 and then 1080.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Tech Mahindra 01/04/21 Thursday The price can test 977 level support, as the movement can be seen downwards. To be exact 14 point movement is expected downside.
Trade Wisely and Smartly.
TECHM - Elliott wave analysis - ABC zigzag down It is in wxy double zigzag correction down after completing impulse up cycle at last high. The last drop is impulse A wave and is under progress. So wait for B wave bounce to trade for C wave in double zigzag down.
TECHM ready for breakout ! Go Looooooooooooong TECHM seems like it completed Elliott corrective wave and begin new cycle of Impulse wave! Also price is getting good support at Fibonacci retracement level of 0.382 (924 to 945) and reaching apex of triangle. Watch out for price breakout above triangle and go Loooooong.
If price goes up, I will update T1 and T2.
If you are long time investor, cash out after 5 months (approximate time for completing New impulsive wave ).
TECH MAHINDRA 4HRBULLISH BAT
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
#2. Trend Lines - revision.Trend Line - A line indicating the general course or tendency of something.
Strongest Buy/ Major Support/ Invest Idea #8Buy level: 850
Target: 1150 OR 'Hold for new high' if Ceiling broken on Daily closing.
"Aim 35% upside and more IT potential."
DISCLAIMER: THIS IS ONLY FOR SPECULATION AND NOT AN INVESTMENT ADVICE OR ANY RECOMMENDATION. KINDLY TAKE OWN DECISIONS FOR CAPITAL RISKS ASSOCIATED IN/WITH FINANCIAL MARKETS AND TRADE AT YOUR SOLE DISCRETION.
#techm #techmahindra #srs #stocktraderchannel #srsenrique #siddharthsehgal #nifty #niftyit #IT
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