Paytm
@paytm Paytm Price target analysisPaytm has crashed almost 70% since its ipo launched in 2021. A recovery phase of this company is still remaining thus ,according to technicals also a company worth $7Billion can worth risk taking.
These are just my views
Note this is not stock buy recommendation This is completely for educational purposes.
PAYTM SHORTERS TRAP @Paytm . Every day market wont goes like yesterday . Paytm shorters trap well played by big players. Company news is bad , yesterday it made 100 points down. So today all would have planned for shorting the stock. The trick is the stock made lower then yesterday low so every one will think , again it will be 100 points down. Who ever shorted the stock, and hoping for stock will come down would have faced loss and bug players gained from that.
Target got hit exactly, and this is TP2As i discussed earlier that you had to take short trade when i said to, and bow you can see that everything happened exactly, and now i am out off trade, cuz volume is getting lowe but still if i could find good price action so again I'll go for short till my second zone! But 1) tomorrow's candle should be close below the red line which was our TP1(take profit 1)
2) candle body should be long
Paytm bullish formation, double bottomPAYTM has been trading in range of 975 to 880 for a while, the stock is forming a bullish candle on daily chart, RSI is also moving up from oversold zone.
the stock is in formation of double bottom near 880 levels
if stock manages to close above 950 levels today one can initiate long for the target of 1140 and 1220 in two - three month
stop of closing below 880
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Disclaimer :
-Please conduct your thorough research/analysis before doing the trade
-Idea shared is only for educational purpose
-Please trade on your own risk
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Some hope for PayTM Investors!1. Base in formation on Lower Time Frames.
2. Stock needs to consolidate between 950-875.
3. Closing below 875, view is negated and downtrend may continue.
4. Confirmed uptrend only above Trend Line BO on upside. As of now, level is closing above 953.
5. Major Break Out only above 1150.
6. Consult your financial adviser before investing. I am personally not invested!
PAYTM CAN TAKE SUPPORT AT 898
We have very little data so far on PAYTM. Basis FIB retracement PAYTM is at 1.1618 levels and is also oversold on RSI. Chances are that it shud take support from these levels of 900 and see a decent upmove. Keep tracking and keep it on ur radar. If 900 is broken on a closing basis then 700 is also possible.
PayTm - Possible Short and long trades. PayTm -
1. In DownTrend.
2. Was bought from 1000 in anticipation of reversal to 1300 and above but failed as 1000 broke today.
3. Sustaining below 990 would mean new shorts will enter, many buyers will be forced to exit at loss.
4. Break of 990 and failing to sustain below it and reversing would mean buying coming from below 1000 level, trapped new shorts.
4. Intraday Trade -
a. Short if sustains below 990.
Target - 950, 910. Stop 1005.
b. Buy - Breaks 990 and fails to sustain below
it. Buy above 1003, Target - 1010, 1050,
Stop - 1000.