Tech Mahindra Pure Price Action
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The price is at a very crucial zone in the Weekly. A mountain pattern is forming in the Weekly. You can call it Head and Shoulders. Facing stiff resistance from the Weekly area.
In the Daily, the long term TL has been broken comfortably on 2nd Dec. The recent trend was already down. Price is seen moving in this parallel channel. Today, we are seeing a rejection of channel upper line, LT Trend Line and monthly zone.
The short term trend line has been broken in the 75 min and price has made Lower High and Lower Low.
In the 15 min, the EMA crossover can be seen, and price breaks below EMAs and Pivot trigerring a short.
In the Daily, the long term TL has been broken comfortably on 2nd Dec. The recent trend was already down. Price is seen moving in this parallel channel. Today, we are seeing a rejection of channel upper line, LT Trend Line and monthly zone.
The short term trend line has been broken in the 75 min and price has made Lower High and Lower Low.
In the 15 min, the EMA crossover can be seen, and price breaks below EMAs and Pivot trigerring a short.
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