TCS Long: Intermediate- to longer-term view of Script.
TCS
TCS seems bullish after more than 6 month price consolidation below 3356 now after forming double bottom pattern in daily timeframe its seems bullish for intermediate term..also prime staying above 50 SMA for month..so according this duoble bottom pattern it may go up. buy above 3400..stoploss 3245 n target 3700 for near term...risk reward around 1:1.8 * this analysis only for education purpose n dont trade according to it.consult ur financial advisor before taking any trade. am not resonsible for any risk of trade.
1) first bottom should be a drop of 10 to 20% of previous price level
2) second bottom should form within 3 to 4% points of the previous low
3) At least a three-month duration is considered appropriate for the lows of the double bottom pattern, in order for the pattern to yield a greater probability of success
4) use daily or weekly data price charts
5)The double bottom pattern always follows a major or minor down trend in a particular security, and signals the reversal and the beginning of a potential uptrend
6) volume should support the Pattern.( source: Investopedia)
all conditions fulfilled by this script..