Tech Mahindra has been struggling to cross the resistance around 722 for past few days.
With IT index looking weak, there is a high probability that the stock may crash soon.
I can see a Double Top formation around 722 levels with a negative divergence.
Good opportunity to short here with stop loss a few points above 722 for a first target around 640 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
With IT index looking weak, there is a high probability that the stock may crash soon.
I can see a Double Top formation around 722 levels with a negative divergence.
Good opportunity to short here with stop loss a few points above 722 for a first target around 640 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.