Paytm -
1. Sell of after open and closed 27.4 % lower.
2. Two attempts were made of buying from 1600 zone -
a. One from 1586 leading to 1723.
b. Second one from 1616 which made lower high than previous swing meaning buyers were getting weaker.
3. Finally sustained below 1600 as buyers failed to fight the selling pressure.
4. Closed near low which means more selling likely. Highs are also being sold.
5. Measured move leads us to around 1450 level.
10% circuit leads us to 14004 levels. These will be our first levels for Monday.
6. Up side this premise will be invalidated if it sustains above 1725.
1. Sell of after open and closed 27.4 % lower.
2. Two attempts were made of buying from 1600 zone -
a. One from 1586 leading to 1723.
b. Second one from 1616 which made lower high than previous swing meaning buyers were getting weaker.
3. Finally sustained below 1600 as buyers failed to fight the selling pressure.
4. Closed near low which means more selling likely. Highs are also being sold.
5. Measured move leads us to around 1450 level.
10% circuit leads us to 14004 levels. These will be our first levels for Monday.
6. Up side this premise will be invalidated if it sustains above 1725.
