LTIM Technical Analysis – Bearish Setup (April 23, 2025)

🔍 LTIM Technical Analysis – Bearish Setup (April 23, 2025)
Chart Timeframe: 2H
Current Price: ₹4337.00
Structure: Descending triangle within a larger bearish channel
Pattern Type: Bearish continuation with lower highs and lower lows
Wave Structure: Impulsive wave down followed by a corrective retracement

📉 Bearish Observations:
Lower Low Formation: The recent price action confirms a consistent lower low and lower high pattern, characteristic of a strong downtrend.
Bearish Flag / Wedge: Price has formed a narrowing wedge after a sharp decline — a classic bearish continuation pattern.
Resistance Zone: Price is currently testing the upper trendline of the wedge/triangle. Failing to break out confirms resistance.
Impulse Fall: The prior drop was sharp and aggressive, indicating strong selling pressure (impulsive wave).
Weak Retracement: The retracement leg lacks strength and volume, hinting at potential exhaustion of bulls.

🎯 Target Levels (Based on Breakdown):
Target #1: ₹3800
This aligns with prior price structure and Fib confluence zone.
Target #2: ₹3600
Based on extended move projections and measured height of the triangle.
Extension Levels (Marked in Pink):
1.618 Fib Extension: ₹3365
2.0 Fib Extension: ₹2846
2.618 Fib Extension (Final): ₹2618

⚠️ Key Risk Levels:
Invalidation Point: A breakout and sustained close above ₹4600 will invalidate this bearish setup.
Stop-Loss (for Shorts): Can be considered above the triangle breakout — ₹4620 zone.

🔔 Conclusion:
LTIM looks bearish on the 2H chart. The pattern suggests a high probability of continuation to the downside after this retracement. If it fails to cross above resistance, expect a move towards ₹3800, then ₹3600, with extended bearish targets around ₹2846–₹2618 if momentum continues.








📌 Disclaimer:
This is a technical analysis based on chart patterns and does not constitute financial advice. Always perform your own research and risk management before taking any position.