TORNTPHARM CMP 3205
Observations: Price broke down from a 3 months consolidation and Retesting the breakdown levels at 3290-3320
Price is trading below the Cloud on Daily TF, Future Cloud is Negative
In shorter TF, it looks like a Rounding TOP formation and breakdown.. Suggesting 2800 levels (If you plot the chart on invert scale you will understand it better..
A retest of the breakdown level at 3300 level is due.. which is also the 50% retracement of this recent fall.. between 50 and 61%, it is a good risk reward set up for the short trade..
Note: I am not a SEBI Registered Analyst. Charts are for Educational purpose only.
Observations: Price broke down from a 3 months consolidation and Retesting the breakdown levels at 3290-3320
Price is trading below the Cloud on Daily TF, Future Cloud is Negative
In shorter TF, it looks like a Rounding TOP formation and breakdown.. Suggesting 2800 levels (If you plot the chart on invert scale you will understand it better..
A retest of the breakdown level at 3300 level is due.. which is also the 50% retracement of this recent fall.. between 50 and 61%, it is a good risk reward set up for the short trade..
Note: I am not a SEBI Registered Analyst. Charts are for Educational purpose only.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.