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Multi timeframe analysis - TECHM

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Let's understand multi timeframe analysis for TECHM. TECHM is closely following CNXIT.

Weekly TF -
CNXIT did a major rally after sudden fall in march 2020, made a strong base in early 2021 and then did another rally in second half of 2021. Price has been falling since January 2022 and now it has reached at a monthly/weekly/daily demand zone. Weekly RSI is also below 30 which indicates that it's heavily oversold.
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TECHM chart looks very identical to CNXIT.
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Daily TF -
There's a Bullish Hammer candlestick formed with a huge volume which could be a sign of trend reversal.
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Price has formed bullish Bat/Alternative Bat harmonic pattern and is approaching Price Reversal Zone(D point - 925). Price could make 50% reversal from PRZ.
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15 minutes/5 minutes TF -
Bullish RSI divergence has been seen on 15 minutes TF. Trendline resistance break and sustenance above it would confirm the bullish trend.
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We have multiple confluences for TECHM trend reversal. Let's see how it plays out. Happy trading!




Feragatname

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