AbhishekHSinghCMT

TCS - Bags Channel Contract at Rs 1,23,750- What Next?

NSE:TCS   TATA CONSULTANCY S
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11
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Excited as TCS bags the channel contract when it started at 2250. We picked right at the bottom 2335 & closed at 2700 in 3 attempts at Rs 1,23,750.

What Next?
We will wait to see whether it faces resistance at the channel top, which it has already respected at 2708-Day high@6th June2017, in that case it can slip down & to what extent we will keep that as open or moving above 2710 it will head for new highs.

Attempt 1 - Buying at channel bottom 2335 as per interim update.

Attempt 2 - Selling at 2600 for 2510-2535 - Falls to 2525

Attempt 3 - Buying in 2510-2535 Zone - TCS moves up-up & away -kisses 2708 day high@6thJune2017- Media Talks about IT stocks in the opening session.
Jun 07
Trade active: 09:41 Hrs 8th June2017

Last Price@2570

What a fall from channel top @2700 - You will be able to filll your pockets only if you respect it.

Jun 08
Trade active: 12:33 Hrs 8th June2017

Last Price@2525

Back to same place where it started last time at 2525

Jun 18
Trade closed manually: 11:14 Hrs 18th June2017

Last Price@2399

Wow! - Channel top@2709 was awesome.

Look at the picture below
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ

Comments

TCS futures are trading at a discount.
Reply
inderjeet05 inderjeet05
Do you know why?
Reply
@inderjeet05, No idea.
Reply
It may bounce from here?
Reply
@ashokakbari, Chances to bounce -if starts moving above 2530 & sustains above that level.
Reply
ashokakbari AbhishekHSinghCMT
@AbhishekHSinghCMT, thanks bro
Reply
oops ... Missed it
Reply
super profit booked & now tcs down
Reply
@gauravsuri17, Nice. You booked on downside move.
Reply
gauravsuri17 AbhishekHSinghCMT
@AbhishekHSinghCMT, bro i played it both ways as suggested by you now waiting again for a entry near 2515-35 lvl
Reply
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