TORNTPHARM for 2800?

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.