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TECH MAHINDRA – TECHM (1D chart) Elliott Wave technical analysis Function: Larger Degree Trend Higher (Intermediate Degree, Orange). Mode: Motive. Structure: Impulse. Position: Minute Wave ((iv)) Navy. Details: Minute Wave ((iv)) might be complete as a triangle around the 1600 mark. If correct, Minute Wave ((v)) to resume higher soon. Invalidation point: 1420. Tech Mahindra Daily Chart Technical Analysis and potential Elliott Wave Counts: Tech Mahindra daily chart is indicating a progressive trend higher towards 1800 levels as Minor Wave 3 Grey unfolds. High probability remains that the stock is preparing to resume Minute Wave ((v)) of Minor Wave 3 and prices should ideally stay above 1575 mark. Tech Mahindra had terminated Intermediate Wave (4) Orange around 940 levels in June 2022. Since then, Minor Waves 1 and 2 completed around 1160 and 1105 levels respectively. Furthermore, Minute Waves ((i)) through ((iv)) of Minor Wave 3 also look complete. If the above proposed counts are correct, the stock should resume higher towards 1700-1800 zone as Minute Wave ((iv)) triangle completes. Thereafter, prices should ideally stay above 1420, the termination of Minute Wave ((i)). TECH MAHINDRA – TECHM (4H Chart) Elliott Wave technical analysis Function: Larger Degree Trend Higher (Intermediate Degree, Orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iv)) Navy Details: Minute Wave ((iv)) might be complete as a triangle around the 1600 mark. If correct, Minute Wave ((v)) of Minor Wave 3 Grey within Intermediate Wave (5) Orange to resume higher soon. Invalidation point: 1420. Tech Mahindra 4H Chart Technical Analysis and potential Elliott Wave Counts: Tech Mahindra 4H chart is highlighting the sub waves since Minute Wave ((ii)) of 3. Minute Wave ((iii)) is an impulse followed by a potential triangle unfolding as Minute Wave ((iv)), which is potentially complete around 1600 mark. If correct, Minute Wave ((v)) should…

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Filed under: News - @ October 11, 2024 12:27 pm