TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 5 to 8 times.
18/09/2019 ALSO COMMENT IF I AM WRONG PLEASE...
view only for educational purpose...
TECHM:- short term Resistance around 734-735 & Short term support around 675-670...
Intraday Range 720-722 upside & downside 700-704..
Other than the points mentioned on my instagram IGTV @kotfotrading , from a longer time frame the current price is near to Fibonacci 38.2 level.
Buyers are dying out and I think this could be the last rally before TECHM starts falling (for short term). Also the 700 price zone is a Value area and Point of control on Volume Profile. Market is closed on Monday so...
It seems that TECHM may follow Head and Shoulder pattern to touch 645 level. There seems to be good support from where it has bounced back. Let's see whether 645 holds or goes even lower.
Interestingly TCS also has a similar pattern.