we can see a wave 1 - 500 to 1800 , in this wave we can see a good retracement of .618 and price is also taking support on a major trendline. AB=CD can be form
a good consolidation or a pennant pattern also can be seen .
if we sit in this trade on the sl of 900 we can definately seen a return of 100% in this script
#TECHM downtrend movement potential with risk-to-reward ratio 3.8
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...
TECHM now Trading above 21 & 55 emas, successfully crossed 200 ema and retested now in dcb chart. As per drawn Fibonacci Extension, short term Target would be 1195-1205 and mid term target would be 1340-1370. Those mentioned zones are vital resistance zones also.
Disclaimer - this chart analysis is only for educational purpose. Do proper study before taking...
Parallel channel breakout @ 1100 (17 Aug 2022)
1) The first target is @1370(20% if buying @1130)
2) The second target is @1570(35% if buying @1130)
3) The third target is at an all-time high @1815(60% if buying @1130)
4) Stoploss @990(14% if buying @1130)
---------- Timeframe: Monthly----------
After making an all-time high(ATH) in 1838 , prices have started collapsing to correct the previous move.
The fair value area has given two resistance on the upper band, and four supports on the lower band of the channel. Excess is showing that sellers are very aggressive with their inconvenience levels.
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
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 .
Disclaimer: It should not be assumed...
The stock has many tail that is it shows price rejection.
Already formed a triangle pattern break was up-direction.
Then followed up with impulsive wave and corrective wave.
Currently the stock is near the small support line.
Below the support line 535 can be consider as bearish.
Buy 538-540 level target 554 to 568. stop-loss 10 point or based on your risk.