NIFTY HEAVYWEIGHT TUMBLING DOWN !
Tata Consultancy Services
Lets Analyse :-
a)TCS which has the single largest market cap in the Indian stock market dropping down for the '5th Consecutive Day'.At the same time the Nifty is showing some strength.
b) Looking at the chart we can clearly see that the stock has found sellers in between 2250-2300 price range on 3 different but consecutive occasions.
c) It has found support in between 2030-2070 on two consecutive occasions...and has a high probability that it may try to find support here for the THIRD TIME.
d) Also we have the 200 Ema lining up at the level.
e) There are very very minor TA confluences like H&S /Elliot wave 5/Divergence etc also flavoring a drop.
Looks a great sell till 2070 at-least.
All the very best
Hare Krishna
Lets Analyse :-
a)TCS which has the single largest market cap in the Indian stock market dropping down for the '5th Consecutive Day'.At the same time the Nifty is showing some strength.
b) Looking at the chart we can clearly see that the stock has found sellers in between 2250-2300 price range on 3 different but consecutive occasions.
c) It has found support in between 2030-2070 on two consecutive occasions...and has a high probability that it may try to find support here for the THIRD TIME.
d) Also we have the 200 Ema lining up at the level.
e) There are very very minor TA confluences like H&S /Elliot wave 5/Divergence etc also flavoring a drop.
Looks a great sell till 2070 at-least.
All the very best
Hare Krishna
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