Tech Mahindra : Double bottom and morning star bullish reversal

Scrip can rebound back due to :
1) %william showing uptrend from oversold situation
2) Morning star pattern in the formation (Green engulfing candlestick required to complete the formation)

Trade can be started after it crosses 383 aiming towards resistance and neckline levels. Beyond neckline bullish surge and breakout could take it to target price = 431
Support level mentioned in chart

Commentaire:

Bullish trend shaping up as analyzed :)

Will wait for affirmed confirmation if the O(open) for tuesday comes above C(close) for today - 385 and maintains the upmove, with minor corrections and then enter trade. Will update SL accordingly

Dont prefer with FOMO (fear of missing out) and then, regretting later.
www.marketoracle.co....uk/Article45801.html

Q1 results YoY turning optimistic with profit spike, could quite see more investors/buyers coming in with surge in buying volume
www.moneycontrol.com...ows-0-6-2340509.html

Commentaire:

Well, Q1FY18 results were quite powerful resulting in enormous buying which usually happens if a company's earnings are much higher than expected, the company's stock may gap up the next day. It crossed the neckline in one go :)

Missed the rally, will now wait for scrip to settle and catch with the new trend if breakaway gap occurs resulting in bullish trend

Commentaire:

Ascending price channel pattern could be in play
Planning to enter the trade at 430 aiming towards higher highs of upper trendline in swing momentum