TECHM trade ideas
R-0090 A flag pattern breakout in Tech MahindraPrice broke out of a major resistance on July 13 and then the price was stuck in a trading range for the last several days. Price is in a steady uptrend as we see a well-defined sequence of higher high and higher lows. Price saw a range expansion candle which is an outside day and a good quality trend continuation signal. The breakout from consolidation can be considered as a flag breakout pattern. IT as a sector has seen a very good run in recent times. Buy Tech Mahindra around Rs 630 and CMP for a rally to Rs 670 and above that to Rs 700. Keep a stop below Rs 605.
TK cross over + Above VWAP + MACD cross over => indicates bullish trend
TECHM achieved tgt from 562 to 656techm gave a breakout on 5th july and again tested the buying range of 562-563 and reached the tgt 656 today(24/7/2020)
TECHM DAILY | Potential to be a Great Buy!In midst of the pandemic crisis, it is technology that is expected to be the recovering agents for the falling economy.
Tech Mahindra shows a natural growth after the fall during the lockdown. The upper resistance line is likely to be broken soon.
The earnings release the coming week will make things clearer.
tech mahindra analysiswe can see a good move after the level of 607.
support 593, 580-85.
resistance 607, 615-20.
keep this stock in radar.
**i am not sebi registered analyst**
Tech Mahindra - Will test ressitanceTech Mahindra will test strong resistance around 605-606.
It will be bullish if it breaks 607.
My immediate intraday view on 14th July will be bearish because from a sudden volume spike it will retrace on the next day.
Previous 4 instances of similar volumes have given retracement on the very next day so we can short it on 14th July and then asses for a breakout in the coming 4-5 days.
TECH Mahindra LONG SuccessfulTook this trade after shortlisting it yesterday based on Narrow Range and good volume. Details on chart. Good start to the week.
TECHMCan be a long above 565 for a target of 574 and 583.
It has shown Golden crossover, crossed above last weeks high and has been making HH HL
