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ShreeKrishna
Aug 8, 2020 3:14 AM

Next Move  Long

NSE:TCS1D
TATA CONSULTANCY SNSE

Description

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This pattern is best suit at this given elevated level

I am looking this has one more move up due in the structure ,

If any down ward move takes place it will be short lived as up side move is still due and intact ,

One can position based on buy set up and add more on drop & reverse in cash

F & O Traders sorry i dont have any clear plan for you guys but we are in Futures and we are looking to book at said forecast Target

Look for buy set up

Comment

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i love it when stock behave Exactly how we forecast , did you how its moving

Just like its listing to ShreeKrishna , ha ha

Comment

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watch out for Buy set up on 1 Hour , any reversal is buy stop under that candle low
CMP 2240

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ha ha , shreeKrishna , shreeKrishna ,
did you miss my today update in YouTube ??

Comment

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this scrip is extending horizontal direction , expect one more move down before any resume , may be on inter day basis ,

Trade closed: target reached

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We booked Futures early Yesterday , and cash holdings today
Wave Analysis
Comments
lonetechnicalanalyst
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Awesome, As usual ;)
ShreeKrishna
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@lonetechnicalanalyst, Thank Q
shaleenbansal
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Thanks! I re-entered. Made a good sum!
ShreeKrishna
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@shaleenbansal, You are welcome
shaleenbansal
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MY SL got hit
ShreeKrishna
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@shaleenbansal, use the logic , rather being rule based , Your buying was incorrect because you did not consider the price action , Price is what it represents in chart

if you do not see Complete Green Candle then its not buy Yet , Patience is key , you must wait despite what is your analysis , You must wait for Market to prove your

analysis is correct by producing Green or Red candle based on your Trade views
shaleenbansal
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@ShreeKrishna, I understood that My entry price was too high for me with respect to my risk appetite. My SL was placed at my maximum risk bearing capacity. However, I still believe that TCS may take a jump. It has extended beyond trend line but holding up the support as of now.It is not always the line we draw on charts. It's bigger than that. If for example, My buy would be anywhere around 2240, I would still be in the game.
shaleenbansal
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Not to sell until the trend line breaks?
ShreeKrishna
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@shaleenbansal, Not to sell Yes , but trend line brake ?? i have not mentioned it here , The Current down move is Proving to be weak and not intense so Expect one more rally

Good luck
shaleenbansal
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@ShreeKrishna, As per the charts, I have initiated a long futures @2256. Can you suggest a stop loss? Also, I just saw that S&P changed it's outlook on the company to 'Stable' from 'positive'. Will this impact the stock price adversely tomorrow?
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