A nice Pick for a swing/ positional trade for this week is a short trade of TCS
, Because the market NIFTY
is overbought & is the world's most expensive market based on PE valuation so its better to short rather than to buy anything in nifty
50, and a recent filter showed TCS
as overbought technically and seems to have formed a double top
and is moving down, The Targets and the Resistance are marked on the chart, the indicators that were conforming the short were MACD
, STOCHASTICS, BOLLINGER BANDS
The Target 1 -Level is a stronger level because of Fibbonacci reteracements 0.61.8 & is a swing low.