AbhishekHSinghCMT
Long

TCS - Old Support 2510-2535- Can it Support Again for 2600-2625

NSE:TCS   TATA CONSULTANCY S
352 12 11
TCS             got the contract for Rs             1,23,750 that doesn't mean that you will sit & don't work. Sitting idle & not working will make you lazy -that's the reason for its fall from 2708 highs.

It has revisited to 2510-2535 important zone as stated earlier. Holding this zone if it bounces above 2530 & crosses 2555 as well then it can touch 2600-2625 target zone.

Going below support zone of 2510-2535 or sustaining below that zone can put the stock in pressure.

Target Zone - 2600-2625 if bounces above 2555 -Best entry will be in the support zone as shown holding 2500 on downside.

Previous Update - TCS             bags Channel Contract at Rs             1,23,750
Trade closed manually: 11:11 Hrs 18th June2017

Last Price@2399

It just went to 2547 below 2555 which was close -did not cross & continued it's fall.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
I will ride on it bro.. Aaj na chhodenge tuje
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@ashokakbari, Nice. Trade carefully
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SatyamMishra AbhishekHSinghCMT
@AbhishekHSinghCMT, sir ji we have to go short 2510 2535 or we have to go long here . Though iam short in it
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@SatyamMishra, Mishra ji, with due respect -I will suggest you first - you need to read on support & resistance. Support is to buy as demand comes in & resistance is to sell as supply comes in. Having said that, Support range is 2510-2535 so you saw -price got rejected from that zone - spike downside was just to take stop losses. If it holds above 2530 -likely heading upside else only below today's low 2480 is good to sell.
Reply
smghasan7 AbhishekHSinghCMT
@AbhishekHSinghCMT, very good insight, great info like this always drags me to your posts, @SatyamMishra cheers for going short at 2685, now count those $$
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@smghasan7, @SatyamMishra - Yes, Mishra has taken right trade close to channel top
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smghasan7 smghasan7
@smghasan7, just to clarify, we can long if it closes above 2530 and go short if it closes below 2480 or can positions be initiated at these levels intraday as well?
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@SatyamMishra, By the way at what levels have you taken sell in this counter. Are you in sell from tops@2700
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SatyamMishra AbhishekHSinghCMT
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@SatyamMishra, Then you should book profits & try to sell below 2480 or don't think of short term trades.
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