Tech Mahindra - Selling at Top@474 -Can Double Bottom Hold@453

Oct 24, 2017

Journey of 2 TM's (Tech Mahindra & Tata Motors) downside post diwali was exciting as both cracked downside. Tech M went down sharp from 474 to 454 as of 24th Oct2017 - gave a double bottom @453 & ended today's session whereas Tata Motors down from 435 to 416

If 480 is intact on upside - we look Tech M down as per previous post
Previous Post - Weekly Bearish Harmonic at 480

What Next?
Double Bottom & Bullish Engulfing Candlestick Pattern in the zone 453-454 if holds on downside then it could be temporary halt for 463-464 target upside.

When to execute?

We need to observe in next session that it holds above 453-454 & starts moving above 457 then it likely confirms a short term bounce from 453-54 zone for 463-464 target zone upside keeping in mind 453 -key level downside.

Oct 25, 2017

Trade active

09:48 Hrs 25th Oct2017

Last price@458.30

Opened at 455 -Travelled to 461-462 - likely to touch upside at upper boundary of the channel.

Oct 25, 2017

Trade active

10:35 Hrs 25th Oct2017

Last Price@463

Again from 455-458 updated at 09:48 Hrs above.

Oct 25, 2017

Trade closed: target reached

10:45 Hrs 25th Oct2017

Last Price@463

Day High@465

Target Done & Out.