Revisiting TechM as 6 months have passed in 2017.
Key Level- 447 Critical Level-515
This whole structure from the highs of 749 is almost opening as expected & taking shape of or (W)-(X)-(Y) whatever you call them. In current position, it is running into (Y) leg.
(Y) leg measures 61.8% of (W) in the zone 325-335 which is the next possible expected zone of importance or if key level@447 is crossed in between & later critical level@515 then we will place (Y) leg to be completed & shall look for TechM beyond 750 highs in that scenario.
Short Term Trading
Short term trading wise any bounce should be used to sell for mentioned target zone of 325-335 once you have confirmation of seller in the counter.
Long Term Trading
Long term trading wise move beyond key level@447 & critical level@515 shall confirm that we are looking for 750+ target zone in months & years to come ahead.
Important milestones in 2017
Update - Act like a lawyer- turning from 442 -Heading for 405-407
Update - Lawyer won the case 442-410 -Bottoms & Pattern to push up again at 445
Update - Bang on Target -40 points & Block Hole Delivery@445
Update - TechM signs the initial- Can it bounce from 400-410 Zone
Update - School Bell Rings at 425 -Let him go back home to 405 -Seems it has gone for vacation - post results
Update - TechM 2016 Diary - Beatiful Pictures & turning moments of 2016
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ