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
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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.
@AbhishekHSinghCMT, sir ji we have to go short 2510 2535 or we have to go long here . Though iam short in it
WaveTalks
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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.
smghasan7
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@AbhishekHSinghCMT, very good insight, great info like this always drags me to your posts, @SatyamMishra cheers for going short at 2685, now count those $$
@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?
WaveTalks
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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
SatyamMishra
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@AbhishekHSinghCMT, 2685
WaveTalks
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@SatyamMishra, Then you should book profits & try to sell below 2480 or don't think of short term trades.