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NeeteshJain
Nov 30, 2016 2:57 AM

TCS Downward WAVE 5 in progress (Swing Trade Setup) Short

TATA CONSULTANCY SERVICES LTD.BSE

Description

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

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