Techm, SharkAs expected in the previous post, it will be difficult for the bears to play this counter. Price has not shaken despite Nifty taking beating today. Let the political weather in the capital be clear up.
TECHM trade ideas
TechM, Bullish SharkThough the Shark pattern looks quite perfect on parameters, yet to trade on short side at its last leg would be a bit challanging. Technicals say that 667 has bee strong resistance wherefrom price is reversing and quite strong support comes at 603.
Techm, BreakoutPrice at resistance breakout. The stock is in strong bull market. Any decline may be lapped up.
Tech Mahindra (NSE): Correction in uptrendThe long-term trend is completely intact and unchallenged. However, on the near term the outlook is a bit tiresome; bearish divergence and the lack of significant new highs suggests buyers are exhausted and a correction is around the corner. Tighten stops on existing longs or cover all together. New buying can be done if/once a deeper correction has occurred and prices set a new higher base. The area around 550<>570 would be ideal for such a base.
Primary trend: positive
Outlook: correction in uptrend, moderately negative
Strategy: cover/protect longs and re-enter after correction
Support: 571.70 / 537.50 / 506.10
Resistance: 532.10 / 665
Outlook cancelled/neutralized: n/a
NSE:TECHM
BUY Tech Mahindra TARGET 599 and above CMP 495 1 month time BUY Tech Mahindra TARGET 599 and above
CMP 495
1 month time
TechM Medium Support 440 , Long term support 410 target 515Tech M Medium support at 440 , if it falls below that then long term support at 410 , it should bounce back from here
TechM reaching support level around 440 Target 515TechM reaches support level at 440 , i feel it will be up from here
TechmaHindra Perfect BO & Strong uptrend with Golden Crossover Target 560,583, Ultimate Target 750 SL470
Trendline Breakout - Tech MahindraTech Mahindra has given trendline breakout on weekly charts with rising volumes. ADX has turn positive on weekly charts. Stock has closed above all short term moving averages on weekly as well as daily charts.
One can initiate long position around 495-505 levels with stop loss below 449 on closing basis for target of 564-582 in next 8-10 weeks.
DNA STRATEGIES BUY SIGNALDAILY FINANCIAL WISDOM: It's a gambler's mindset to try and pick tops and bottoms. It's a professional's mindset to trade with the trend..
High Alert -- inverted head and shoulder please watch thisinverted head and shoulder please watch this -
once ca take risk above 476
tech mahindra reversal after double bottomtech mahindra reversal after double bottom on weeklt charts
TECH MAHINDRA explained in detailRED, BLUE and GREEN line already described on the chart.
Close above blue line in coming session may bring a confirmed pull back...minimum of 10 to 12 % can be expected from CMP 433.95
