Tech Mahindra Monthly Expiry (Short)
Aggiornato
Tech Mahindra can correct itself due to following technical reason:
1) DoubleTop Formation/ M pattern
2) Swing low are broken
3) On Daily chart trading below 20 EMA
On Hourly chart trading below 20 & 50 EMA
4) Tried breakout yesterday failed today marubozu
seller on daily candle representing seller's in
control
5) Can correct further since it's breaking channel.
(Note: Author is neither responsible for anyone's profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
1) DoubleTop Formation/ M pattern
2) Swing low are broken
3) On Daily chart trading below 20 EMA
On Hourly chart trading below 20 & 50 EMA
4) Tried breakout yesterday failed today marubozu
seller on daily candle representing seller's in
control
5) Can correct further since it's breaking channel.
(Note: Author is neither responsible for anyone's profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Trade attivo
On weekly candlestick chart, last two weeks of hanging man candllestick & last week a gravestone doji with an inside bar candle formation
On daily candlestick chart , long wick bearish candle indicating still the sentiment is negative.
Waiting for the trendline to be taken out decisively a bigger move downside may be in cards in upcoming weeks.
Trade chiuso: obiettivo raggiunto
Currently trading at 1578 . Achieved M pattern 1:1, rest is trailing . Closing the idea
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