TECHM trade ideas
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
TECHMIts a sell below 583.50, it has reversed from its resistance of 605, can be short from 583.50 to 575, 570 and 565.
If it break 605, expect 611, 615 and 634
