AbhishekHSinghCMT

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

Short
AbhishekHSinghCMT Updated   
NSE:TECHM   TECH MAHINDRA
7
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

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