Lawyer won the case at 410- Under, -Indian Penal Code, On the basis of Benefit of Doubt(B.D.), Bulls shall be acquitted but cannot leave till the time the case is completely closed.
TechM- Act like Lawyer- Turning from 442 -Heading for 405-407- Result 410- Case Won.
Clues submitted for B.D.
Clue1- Zone in 410 to 413 Zone.
Bottoms is the initial clue as B.D for Bulls.
Clue 2- Pattern- Pattern
What is a 'Morning Star'
A is a pattern that consists of three candles. The first bar is a large red located within a defined downtrend, the second bar is a small-bodied candle (either red or white) that closes below the first red bar, and the last bar is a large white candle that opens above the middle candle and closes near the center of the first bar's body.
It is a trend reversal setup so B.D. given to Bulls.
Clue 3- Fibonacci -Wave 3 travels 361.8% at 407-410 of Wave 1 distance
Final Clue submitted as B.D. has Wave 3 (Red Color) completing 361.8% at 407-410 zone
Moving Above 423 - It should retrace 38.2% of Wave 2-Wave 3 Distance at 442-447 Zone, which shall be target zone with strict stops below 410.
I will be glad to have your comments.
Where are we in TechM on larger count- Falling from E Wave of the triangle
Turned from 423 - level mentioned in Trading Strategyabove. Moving above 423 -we shall look next upside move.
Good Morning! - We shall look for a move above 423 as trigger point.
Above 423 it has triggered for upside. Moving above 435 -It continues it next set of upside for 440-445 Zone where we have to see whether it holds or even crosses that as well, but if we feel it is getting resistance then likely we should book profits in that zone.
Day High@444.50 - Target achieved as expected 445 kissed
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ