PurandaraVittal
Short

"TCS" Short A Sensible Trade

NSE:TCS   TATA CONSULTANCY S
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 , RSI , STOCHASTICS, BOLLINGER BANDS , ADX .
The Target 1 -Level is a stronger level because of Fibbonacci reteracements 0.61.8 & is a swing low.

Good Luck.

Comments

Great view
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@thegreat67, Thank you, Good luck
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