TECHM - Pullback on cards?
Updated
Getting rejected at the 200 Period EMA on Hourly (50 EMA on Daily). No long trades until and unless we close and sustaining above this level decisively (at least 2 60 minutes candles)
On Daily TF, ending formation is seen at the top.. A decent pullback can't be ruled out.
On larger TF, price seem to have one more leg up on the upside to complete the 5th..
Wait and watch game.. I would consider going long around 1500-1550 zone as RR is much better at that price.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
On Daily TF, ending formation is seen at the top.. A decent pullback can't be ruled out.
On larger TF, price seem to have one more leg up on the upside to complete the 5th..
Wait and watch game.. I would consider going long around 1500-1550 zone as RR is much better at that price.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
Order cancelled
The way price is moving, it looks like one more high is very much possible for the extended E leg... So not going with this view for now.. Let it break 1550 first..
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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