Tech Mahindra price movement analysis on weekly timeframe
Tech Mahindra is making a really interesting and clear price action.
1. 2022 to mid 2022 - Lower high lower lows
2. mid 2022 to mid 2023 - yearlong box consolidation
3. Fakeout in July 2023
4. Real breakout in August 2023
5. Retest in November 2023
6. presently in higher high and higher low.
If you are interested in investing(long term) in IT sector, this stock should be the one in your portfolio, Invest in parts as the price consolidates and retraces.
Swing traders should ride this stock by using 20-50 EMAs
Investors or positional traders use 50-100-200 EMAs.
Stop loss @ 1200/-
1. 2022 to mid 2022 - Lower high lower lows
2. mid 2022 to mid 2023 - yearlong box consolidation
3. Fakeout in July 2023
4. Real breakout in August 2023
5. Retest in November 2023
6. presently in higher high and higher low.
If you are interested in investing(long term) in IT sector, this stock should be the one in your portfolio, Invest in parts as the price consolidates and retraces.
Swing traders should ride this stock by using 20-50 EMAs
Investors or positional traders use 50-100-200 EMAs.
Stop loss @ 1200/-
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