Ascending triangle formation in TCS on 30mins chart.
When the price break the top line of the Ascending triangle, the trend will be bullish but here need to focus o EMA 50.
EMA 50 lying above the price. so EMA will act as a Resistance so keep on eye. Once EMA 50 also broken then it will be hit the target.
Trade Idea:
Buy above - 2163
Target 1 - 2184
Target 2 - 2201
Stop Loss - 2137
Target 1 points gain - 21
Target 2 points gain - 38 (Total)
Stop Loss points loss - 26
Happy Trading...!
When the price break the top line of the Ascending triangle, the trend will be bullish but here need to focus o EMA 50.
EMA 50 lying above the price. so EMA will act as a Resistance so keep on eye. Once EMA 50 also broken then it will be hit the target.
Trade Idea:
Buy above - 2163
Target 1 - 2184
Target 2 - 2201
Stop Loss - 2137
Target 1 points gain - 21
Target 2 points gain - 38 (Total)
Stop Loss points loss - 26
Happy Trading...!
Trade closed: target reached