rinkesh

have bears taken over TCS?

Short
NSE:TCS   TATA CONSULTANCY S
148 views
10
Confluence of following factors makes TCS a compelling sell.
1. Bearish Engulfing pattern near long term resistance level .
2. Volumes are a tad more than 10 day average volume , will be much higher as the trading day ends.
3. RSI at peak was nearing 75, means TCS was quite overbought.
4. Negative media commentary by INFY executive on IT business outlook.
5. RSI divergence spotted.

CMP: 2593
Stop loss: 2697
Target: 2500, further downside if 50 DEMA is breached
Comment: target achieved! stoploss can be moved to 2500. And should wait for reaction with 50 DEMA
Trade closed manually

Comments

Accurate prediction.......
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Good work , Keep doing
Regards
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rinkesh shiv2798
@shiv2798, Thanks :)
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Rinkesh Bhai TCS ab 2700 kab aaye ga and thank you
Reply
rinkesh dharmeshpandya79
@dharmeshpandya79, no idea sir and welcome! :)
Reply
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