Topic Statement:

TechM has been stuck in a consolidation zone, rebounding from strong support levels and forming a wedge pattern that may signal an upcoming breakout.

Key Points:

• The stock corrected up to the 30% Fibonacci retracement level, finding strong support around 1314
• It touched the 200-day moving average, which acted as a support and triggered a rebound
• The candlestick formation resembles a wedge, clearly marked on the chart with blue trend lines, indicating potential for a decisive move ahead

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Disclaimer

This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.