TechM - B.D- Lawyer Won the Case@442- 410 Bottoms & Morning Star

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B.D. - Benefit of Doubt

Lawyer won the case at 410- Under, IPC             -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- Double Bottom Zone in 410 to 413 Zone.
Bottoms is the initial clue as B.D for Bulls.

Clue 2- Morning Star Candlestick Pattern- Bullish Pattern
What is a 'Morning Star'
A morning star is a bullish candlestick pattern that consists of three candles. The first bar is a large red candlestick 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 candlestick 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

Trading Strategy
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
Trade active: 18:40 Hrs 8th May2017

Closing Price@421.15

Turned from 423 - level mentioned in Trading Strategyabove. Moving above 423 -we shall look next upside move.

Trade active: 07:51 Hrs 9th May2017

Closing Price@421.15

Good Morning! - We shall look for a move above 423 as trigger point.
Trade active: 10:25 Hrs 11th May2017

Last Price@430

Good Morning!

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.

Trade closed: target reached: 10:09 Hrs 12th May2017

Last Price@440

Day High@444.50 - Target achieved as expected 445 kissed

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Dear Sir,
I am a big fan of your analysis. I know you would have less time to analyze other people's stocks. Hesitantly requesting you to analyze Motherson Sumi and Ashok Leyland (for long term just the way you did for Cipla) as and when time permits.

Many Thanks
@NageshNk, Welcome, Weekends -I can try my best to have a look at MS & AL.
@NageshNk, Hi Nagesh, I have published Motherson Sumi.
424 entered
Can I exit at 440?
@pradip.c1000, Yes, Likely 440-445 is the zone where we need to see how price behaves- I will surely book profits & see next how it moves.
Bought near 414 with a SL of 405 for 436-441
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