TechM-2016 Diary -Beautiful Picture-Turns Down From 500-510 Zone

AbhishekHSinghCMT Updated   
Bracket (( ))- means circled wave.

Its an ABC structure on the weekly chart of TechM- as suggested -look for selling at ((e))-wave once completed. Beautiful Picture- turns down from 500-510 zone post completing ((e))-Wave.

507 is an important level or resistance -not to be taken out in recent coming sessions- 507 if taken out on upside, then structure violates- in that case I shall come back.

Going below double bottom in the zone 400-405 or below the B-D line confirms that triangle is in place@507-E wave.

Going below double bottom- Shall look for C-wave at 61.8% of A-wave which comes in the zone 325-335 ( A-wave distance is 748 to 458) - That will be likely targets post confirmation.

This is how we moved in 2016 & some important lessons-shown below

In all below charts- click within charts & use load bar feature

14th Sep2016---B-wave triangle with missing e-wave-Weekly Chart

14th Sep2016--Tripple Correction to End@451.30--4 Hour Chart

22nd Sep2016--How 476.50 acted as resistance

26th Sep2016-- A lesson to be taken home as a wise trader

23rd Nov2016-- E-wave in progress of triangle

27th Nov2016-- What an E-wave - Boom

Trade active:
18:17 Hrs 10th June2017

Last Price@387

Look what happened to TechM. As expected in Jan2017. TechM to touch 325-335 -It made a recent low of 355 likely still open on downside to kiss the zone of 325-335.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle

Telegram Handle

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.