Excited as TechM is close to target zone of 325-335 as expected in Jan2017 update. Putting down TechM 2016 Diary-Beautiful Picture Turns down from 500-510 Zone which has nested charts & updates how we moved in 2016.
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 ABC 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 & Morning Star Candlestick 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
@MAYURSHAH444, Let us wait to see whether that becomes reality.
MAYURSHAH444
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@AbhishekHSinghCMT, Hmmm Anything can happen in downtrend though i hope tech m reverses as am holding from 410 levels..how do u find this company long term fundamentally ??
smghasan7
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beautiful analysis of TechM, i've followed most of your posts on this stock... superb work... brilliant
WOULD BE GREAT TO BUY MORE OF TECH M AT 335