On a Daily time frame, Tech Mahindra is forming Higher High and Higher Low. Based on Demand and Supply power pattern, A buying zone has been formed known as FTR. Buying price as per zone - 1650.5 , Stop loss would be below the zone, i.e. - 1576 and the target would be new higher high. Safe trader can keep a target 1820 which is near its recent high as it can act...
Price is falling from a 2HR RZ SZ and coming towards an FLZ zone, we have another FTR zone below it.
1. I think price will go through the FLZ kiss FTR and then bounce back up.
2. If the arrival is fast there is a gap down opening, although very little possibility but then the price can go down.
I expected a reverse in Nifty in my last ideas , but the point I missed is that reversal happened already.
Now Nifty formed an FTB and Quasimodo and it started its bullish momentum.
So I reanalysed my prev idea and corrected it now.
Disclaimer: Educational purpose only