AbhishekHSinghCMT
Short

TechM - Weekly Bearish Harmonic @480 for 415- 380 -355

NSE:TECHM   TECH MAHINDRA
As I always suggest never hurry in trade. Look for market excitement & then follow them, you will be more happy.

We have bearish harmonic with B leg- retracing 38% which is slightly different from bearish gartley as B leg minimum retracement should be 61.8%.

How to execute

Travelling below 470 or close to 480 without moving above 480 highs & falling back below 473 should be keenly watched as entry point for some red movement.

This is weekly chart & if falls as expected holding 480 on upside. It can take 4-5 months for fruitful results & never forget to book partial profits in between.

Targets downside shall be 415-405 Zone. Below 405-407 Zone for 375-380 Zone & Below 375 for 355-325.

Sep 2016 Update - B Wave Triangle with Missing "e" leg


Result of the update
"d" leg got extended downside & formed double bottom in 405-407 zone then pushed for "e" leg upside for 500-515 Zone



Nov 2016 Update - E- Wave in progress of Triangle

Result of the update -
E- wave started for the joorney of 500+



Jan 2017 Update - Hold your nerves for the fall from 500

Result of the Update
What a fall which extended to 355 lows when you go back to this update.



April 2017 Update - Act like a lawyer

Result of the update
Lawyer cracked the case with clues like trendline , candlestick pattern & fibonacci retracemet.

Trade active: 13:20 Hrs 17th Oct2017

Last Price@471

Psychological level of 470 is taking lot of time to break so if any short positions book partiala profits & wait for bounce to sell close to 480 levels
Trade active: 14:42 Hrs 17th Oct2017

Last Price@470.75

Holding very tight on downside between 468-470 - if this zone is intact downside we can expect bounce here as well close to 475-478 zone. As suggested earlier 480 should not be breached on upside.
Trade active: 15:11 Hrs 17th Oct2017

Last price@473.50

Bounce is on from 469-470 as suggested 30 mins back

Trade active: 15:22 Hrs 17th Oct2017

Last Price@473.70

What ever you can squeeze here for short term buy call squeeze & be out as markets are ending. We will sell below 469 next or if we see resistance close to 480 highs -holding 480 on upside in next session.
Trade closed manually: 09:45 Hrs 18th Oct2017

Last Price@465

Slipped as expected. Take Care.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
What are you boss?? Which planet are you from?🙈
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@Yuvraj2195, Enjoyed
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Yuvraj2195 AbhishekHSinghCMT
@AbhishekHSinghCMT, obviously
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@Yuvraj2195, Cheers & Backupside from 453 -455 zone to 470+ today.
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Great call Bro!!
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AbhishekHSinghCMT bhaskaraddanki
@bhaskaraddanki, Cheers!
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Thanks,
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