Probable scenario:-The rising wedge pattern is a probable sign of a strong bearish movement. In the case of TCS, if the price doesn't hold the support line it might go bearish. If the price doesn't find immediate support while retracing it might go for a strong bearish move. Alternate Scenario:- If the price breakouts the resistance level and holds that position for some period then the strong bullish trend might continue which is less probable to happen. Probable scenario: Alternate Scenario = 70 : 30
nice I have also noticed the 9th July volume there is a high volume for the red candle.. so maybe not be a good sign. what do you think about the volume?
TradingVoyage
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Yes, it was a huge volume on 9th July. it is better to wait for the confirmation. Now the TCS is just on a verge to do something.