NeeteshJain
Short

TCS Downward WAVE 5 in progress (Swing Trade Setup)

BSE:TCS   TATA CONSULTANCY SERVICES LTD
It is been observed on daily and weekly chart that the price action making lower highs and lower lows indicated a downward trend. Now, It is also been observed that the price action completed Wave 4 and now it is in progress of Wave 5 in the prevailing downward trend. For last two trading session, it is been bearish when Marked acted positive. I believe sellers are in control and it may further dip down. Regards

Target1: 2205 (RR- 1:1)
Target 2: 2100 (RR- 1:3)
Target 3: 2000 (RR- 1:5)
Stoploss: 2350
Trade active: Showing Weakness
Trade active
Trade active
Trade active
Trade closed: target reached: Target 1 reached successfully, Regards
Trade active
Wave 4 should never enter in Wave 1 territory.
+1 Reply
NeeteshJain arumugam_eee
@arumugam_eee, That's right, but it didn't happen here. Thanks, Regards
Reply
superb
+1 Reply
@reddi_p4u, Thanks, wish it adds value to your trading experience. Regards
Reply
sir whats ur opinion about tcs for the coming week ! u think it shall reach target of 2000 this expiry !!
+1 Reply
NeeteshJain Virajsemwal
@Virajsemwal, I can not commit the time but it is in the downtrend and it shall further fall to 2000 levels. Regards
Reply
Virajsemwal NeeteshJain
@NeeteshJain, thank you sir !!
+1 Reply
SIR CAN I TRADE IN OPTION IN THAT
+1 Reply
NeeteshJain mayanksb10
@mayanksb10, No recommendations on that as options involve good risk appetite and it generally depends trader to trader. Wish you the best. Regards
Reply
To me it looks like TCS already completed 5. It's a sure buy above 2323.
Reply
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