Tech Mahindra- A Good Stock in underperforming IT sectorKeep This On Your Radar....beautiful consolidation Of around 12 Months...this setup has beautiful RR If it breaks above 1165 and build your trade best on your RR. Put your SL based on your risk, below 1050 it will become weak.
Do your own analysis before investing; this is just an idea not recommendation. This is just my view & a step towards learning chart patterns & trading
TECHM trade ideas
Tech Mahindra udde ga ya dude ga??🤔First things first sorry for not being active on trading view becoz of job pressures but now, I will try to post regular analysis so today, I came up with analysis of tech Mahindra. However consolidation is going inside the chart of Tech Mahindra and there is one saying for consolidation which is "CONSOLIDATION IS NEXT STEP OF A BIG MOVE" so we all will try to catch that move. If it breaks 1168-70 will go for buying and if it breaks 975-978 then will sell tech mahindra but be careful if it breaks 975-78 levels becoz what I see is there is a support around 910-913.
TECHM- Consolidation 1 year Daily/weekly/monthlyView-Sidesways to bullish
The stock is consolidating between 1150 to 980 lvls. However this time it has taken support near .5 Fib levels. which are near 1061-1075. This makes high probabilty of going upside.
If it holds around 1135-1110 for next 1-2 weeks we may see a strong up side for 1300+ 1400+ 1500+
This analysis is only for learning and educational purpose. Please manage your risk accordingly.
TECHMAHINDRA - NSECo website- www.techmahindra.com
India's 6th largest IT company-- Communication, Media & Entertainment, Retail & CPG, Healthcare & Life Science, Banking & Financial Services, Transport, Hospitality & Logistics and Manufacturing & Utilities
150000 professionals across 90 countries, market cap 1.1lc cr ( $13.5 BILLION ) , 10% Sales growth yoy, virtually debt free, 64% free float.
Inr - usd trading @ 82, future results to benefit from forex flux. Bet you know someone who works there ;)
Setup is clean, money punted in. LFG
Tech Mahindra looking +ve for a take off....Tech Mahindra Ltd is the multinational information technology and consulting company. It is a part of Mahindra group having operations in over 100 countries leveraging next generation technologies including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, AI and many more. It ranks among the top 7 IT brands globally with AA+ rating.
Tech Mahindra CMP is 1093.60. Negative aspects of the company are declining annual net profits, declining cash from operations annual, FIIs are decreasing stake, promoter holding decreasing. Positive aspects of the company are no debt. MFs are increasing stake and zero promoter pledge.
Entry after closing above 1103. Target of the call will be 1141 and 1163. Long term targets in the stock will be 1196 and 1230+. Stop loss in the stock should be maintained at closing below 986.
TECHMwe are looking TECHM Bullish move rapidly
Disclaimer:
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