- TECH MAHINDRA – Posted their Q4 results on 21.05.2019 with a decline of 7% profit than previous year.
THE CONDITIONS OF DOUBLE TOP ARE
1. Two tops should be equivalent.(Yes present)
2. The duration between the tops must be minimum 1 month.( 60 days interval is present )
3. The volume during the second top or the neck crossing line should be high. (very high volume is present in both the points )
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Stock Ticker – NSE: TECHM – Tech Mahindra Ltd. – IT
Bearish Trade plan:
Entry Level 743.30 Target 683.90 Stoploss 802.70
Analyst Rating – :4/5
View Posted on 2019-05-23
Nice Timing of analysis but i would have sold it when the price broke its previous top which is 770 and my target would have been 720 , if the price manages to break 720 then i would hold my position then my next target will be between 680 and 690… THANK YOU
After you measure the entry and stop loss, you need to apply this distance starting from the opposite side of the neck line. In other words, your minimum target equals the size of the pattern.
correct me if i am wrong
correct me if i am wrong
PLEASE AND THANK YOU
Hi,
Stop-loss should be above the resistance of the double top reversal pattern and take your entry just below the neckline.
Yes Naresh sir. In my next analysis I will get it corrected.