#TECHM downtrend movement potential with risk-to-reward ratio 3.8
Symbol :TECHM
Time frame :4 hours
Analysis:Moving average 6 is below MA 20 && MA 20 is below MA 40.Break out from a symmetrical triangle on a down trend side. SO,we can expect a target up to 900 .
Sell call details : SELL below 1000 with stop loss 1037 and We can expect first Target to be 940...
Bearish Engulfing on Day candle that means this stock is weak.
If in coming days we 1440 or 1420 breached then we can short until our target met.
Initial target : 1401
Exit Trade : 1364
The I.T sector move has been exhausted and now it seems to me that the scripts will be touching their retesting levels before gaining momentum again.
Right now it's time for the finance sector to boom.
The RSI is weak
MACD below signal Line
Volume profile shows targets can be further below.
Sell Below 1780 (Wait for a small retracement)
Targets mentioned in the...
After a thrust from a triangular structure, stock has broken below the level where the triangle completed. It suggests that stock is going to have a larger correction. One should sell the stock on cmp or on any rise keeping SL of 1540 & look for the target of 1450/1350
TechM Head and shoulder pattern spotted on 2 hour chart.
Short at cmp 984 or below
Neckline is 988
First Target 943
Second Target 900 (Ideally should be achieved within 6 days)
Good breakout for Head and shoulder with RSI below 40 now and recent MACD sell signal ,best time to short!!!
I hope you can now see how Techm represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed...
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...
