When most of the IT stocks are going from strength to strength, TECHM continues to show weakness.
The above graph is ratio of TECHM vs NIFTY which is nothing but relative strength of TECHM w.r.t. NIFTY 50 index.
As can be seen ratio has broken below its support level and continues to stay below it.
So view for TECHM continues to be bearish.
Trade ideas:
The above graph is ratio of TECHM vs NIFTY which is nothing but relative strength of TECHM w.r.t. NIFTY 50 index.
As can be seen ratio has broken below its support level and continues to stay below it.
So view for TECHM continues to be bearish.
Trade ideas:
- Can short TECHM with stop above 555.
- If already short, hold your short positions.
- Write Call options of strike 550 and above.