Tech Mahindra Limited (NSE) chart (2h timeframe) step by step with Target, Stop-loss, Support, Resistance, Pivot levels, Trend View, and Positioning.
🔎 Technical View Current Price: ₹1,416.75
Fibonacci Retracement (from ~₹1,396 low to ₹1,562 high):
0% = ₹1,396.70 (strong support)
50% = ₹1,479.50 (key resistance)
61.8% = ₹1,499.05 (major resistance)
100% = ₹1,562.35 (swing high resistance)
21 SMA (Simple Moving Average): Price trading slightly below it → short-term bearish but recovering.
RSI (14): ~40 and bouncing from oversold (<30 recently) → shows possible reversal/buying interest.
📊 Support & Resistance Immediate Support: ₹1,396 – 1,400 zone (if breaks, next support near ₹1,360)
Immediate Resistance: ₹1,423 (SMA) → ₹1,450 → ₹1,480 → ₹1,500
Strong Resistance: ₹1,560
🎯 Target & Stop Loss Entry Zone (Buy): Around ₹1,410–1,420 (near support)
Stop Loss (SL): Below ₹1,395 (swing low)
Target 1: ₹1,450
Target 2: ₹1,480 (Fib 50%)
Target 3: ₹1,500 (Fib 61.8%)
Target 4 (Long-term): ₹1,560
📌 Pivot Level For short-term (2h chart), pivot around ₹1,423–1,425 (21 SMA + Fib zone). Staying above = bullish momentum, below = weak.
🕒 Trend View Short Term (1–2 weeks): Neutral → Possible pullback to ₹1,450–1,480 if ₹1,396 support holds.
Medium Term (1–2 months): Weak but recovery possible if closes above ₹1,500.
Long Term (3–6 months): Needs breakout above ₹1,560 for bullish trend continuation, else sideways.
✅ Positioning for Profit Best Side: 📈 Buy near support (₹1,410–1,420) with SL at ₹1,395 → Target ₹1,450–1,500. 🚫 Avoid fresh shorting unless price breaks below ₹1,395 with volume.
📌 Conclusion:
Stock is oversold and holding above ₹1,396 support.
Risk–reward favors long positions (buy side) for bounce trades.
Safe traders: wait for a move above ₹1,423–1,425 pivot to confirm strength.
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