for educational purpose only - techm is very near to buying area. 430-435 sl 425 tgt will be 470
Forming a Cypher pattern in Techm -2.79% . Long positions can be taken @428 level if it sustains in that range for a immediate target of - T1 (460) , T2 (471) , T3 (482) . SL 405 RSI Indicates that it is going to enter the oversold zone. May bounce back sooner. Immediate support @ 445 - 447. If it breaks this level long positions can be initiated
Here is a TECHM trading setup on hourly chart. Please use this as a reference when you trade.
This stock has been consolidating in a right range and the IT stocks have been relative out-performers off-late. A breakout above the cloud would be a positive development and could help the stock seek next resistance at 570-580 range. This one is in my watchlist.
The stock is moving nicely in up sloping channel. One can enter now with stop loss of 412.50 for a target of 440-446. Good risk to reward ratio.
The concept lying behind this post is how to trade with Elliot waves and use it to our advantage, with simple known techniques. Many will have doubts on how Elliot Wave count is done.It's as simple as 1-2-3, I will explain step by step. This is gonna be Learn n Practice post, so with each step mentioned, you draw & analyze along with Me, So that you can learn more...
Hi Guys, We have simple bearish trend continuation setup and TECHM is facing some good resistance around 500 levels, as per my trade plan its good to go short from here with targets around 480's. Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!