Tech Mahindra is on consolidation; both bear and bull repeated in recent days; after a small uptrend TechMah is on facing downtrend if the support break at 485+ range…
Having support at 480+ range; if it crosses below 485, we confirm this stock is downtrend.
Buy at / above: 500.64
Stoploss : 495.06
Targets: 506.00 — 511.63 — 517.30 — 523.00
I see the current formation is a part of flag. Here the BEARISH ENGULFING appeared after a sideways move.
I had doubt if it is flag, but I was sceptical. I have to widen my eye to find that.. Will do in next charts. Thank you Sir, for quick and feedback.