Tech Mahindra support resistance
Within the last 2 years, Tech Mahindra (TEML) has been testing Resistanceline and supportline 4 times, all with success.
Everytime the price tested Resistanceline, the price was rejected and Sellers started to short and the price dropped. Right now, we see the same formation and we want you to pay attention to this Stock.
The price is at an important area with a strong Resistanceline, which have not been broken for 2 years.
There are two senarios right now. If the Resistanceline holds then we will see a fall back to area 330-340. Or if the Resistanceline is broken, then we will have a new support and see the price go up further.
If you are long, then you might sell off when the price is rejected.