TechM - School Bell Rings at 425-Let him go back to home@405

Sold at 445 for 408 with the block hole delivery update earlier & bought with half completed TechM initials in the zone 400-410 for target zone 423-425- Bang on Target.

Counted simple waves from 445 tops -circled waves i-ii-iii-iv (booked profit in this wave at 425) & now expecting "circled wave-v" next

This current wave retraced 50% from 442 to 408 wave distance -normal distance travelled by wave "four" & kissed the zone 423-425 as expected & updated in previous update- "TechM- signs the initials"

We shall be looking for circled wave-v in the zone 408-410 zone -to complete its initials- "Tm"

Trading Strategy

Risk Traders - They can take sell in current zone of 424-425 - we have no stops for them as they have to manage themselves because we are not sure that this would be current high so likely we want price to hold in this zone & starts falling then initiate short calls

Safe Traders - Going below 415 we will look for 408-410 target zone.

Update - Block Hole Delivery at 445

Update - TechM signs the initials -TM - shall be completed in 400-410 Next

Trade active:

11:54 Hrs 26th May2017

Last Price@424.15

Dark Cloud Cover -1st Candle for the day is bearish candle setup having high@428.75 -made initial low for the day@420 - Traders could have booked part profits to sell again at bounce
This bounce should not move above 429 & sustain above else -pattern goes in the bin.
We are expecting a down move to 408-410 & possibily even more on downside but be careful 405-408 is strong support zone- so that TechM price likely will show respect to that zone.

Trade closed manually:

12:48 Hrs 26th May2017

Closing the call

Taking 4-5 Stops as a risky trader.