cycle 5 beginning.
looks like techm has completed primary wave 4 ascending triangle or ABC flat with wave c getting truncated and is breaking out of it.close above 1052 will confirm pattern completion.
longs can be initiated for one month time frame with a .618 extention tgt(1290) of cycle wave 1-3 from cycle wave 4 low for cycle wave 5.one can place a stop loss @ 945 on daily closing basis.
momentum wise stock is trading above it's 20 sma and rsi also showing strength
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
longs can be initiated for one month time frame with a .618 extention tgt(1290) of cycle wave 1-3 from cycle wave 4 low for cycle wave 5.one can place a stop loss @ 945 on daily closing basis.
momentum wise stock is trading above it's 20 sma and rsi also showing strength
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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