Tech Mahindra Ltd – Technical View
Timeframe: Daily
After a strong upside move, the stock is showing double-top formation (Top 1 & Top 2) near the upper Bollinger Band. Momentum is slowing, indicating short-term profit booking.
Price is still above the 20-EMA, so overall trend remains positive, but near-term caution is advised.
🔑 Key Levels
Immediate Resistance: ₹1,600 – ₹1,615
Support Zone: ₹1,545 – ₹1,550 (20-EMA area)
Major Support: ₹1,480 – ₹1,470
📈 Outlook
As long as price holds above ₹1,545, pullbacks can be healthy.
A decisive breakdown below ₹1,540 may lead to deeper correction towards ₹1,480.
Fresh upside only if ₹1,615 breaks with volume.
⚠️ For educational purposes only. Not a buy/sell recommendation.
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