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TECH MAHINDRA LTDTT

TECH MAHINDRA LTD

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TECHM trade ideas

Tech Mahindra Trend AnalysisPrice is nearing accumulation level as per the Head & Shoulder pattern technical target. Sound fundamentals with almost zero debt will make it soar in next bull run. Good to accumulate around 850-920 levels for the following targets: Short term swing target @ 1275 (43% ROI with 4.28 R:R) Medium term swing target @ 1620 (82% ROI with 8.1 R:R) Long term positional target @ 2200 (147% ROI with 14.5 R:R) Stop loss @ 800 Do your own due diligence before taking any action. Peace!!
NLong
by Swastik24
Multi timeframe analysis - TECHMLet's understand multi timeframe analysis for NSE:TECHM . NSE:TECHM is closely following NSE:CNXIT . Weekly TF - CNXIT did a major rally after sudden fall in march 2020, made a strong base in early 2021 and then did another rally in second half of 2021. Price has been falling since January 2022 and now it has reached at a monthly/weekly/daily demand zone. Weekly RSI is also below 30 which indicates that it's heavily oversold. TECHM chart looks very identical to CNXIT. Daily TF - There's a Bullish Hammer candlestick formed with a huge volume which could be a sign of trend reversal. Price has formed bullish Bat/Alternative Bat harmonic pattern and is approaching Price Reversal Zone(D point - 925). Price could make 50% reversal from PRZ. 15 minutes/5 minutes TF - Bullish RSI divergence has been seen on 15 minutes TF. Trendline resistance break and sustenance above it would confirm the bullish trend. We have multiple confluences for NSE:TECHM trend reversal. Let's see how it plays out. Happy trading!
NLong
by PriceActionTrader1
2
TECHM LONGCurrently at a very crucial support zone. If it bounces back from this level, it will be a good stock for the upcoming weeks. If it completes the double bottom formation, we can also see it going above 1570 levels. Trade safe. Manage risk. Be profitable. Please follow us for more simple trading analysis and setups. Also let me know in the comment in case you have any queries. Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
NLong
by simple_trader2022