TCS TRADING STRATEGY LONG TERM
TCS on weekly chart looks good to plan a trade. Currently it is making a descending triangle pattern, testing the trendline for fourth time. We can anticipate a slow and steady breakout.
We can make an entry now STOP LOSS@ 3100 (5-6%), TARGET 1 is 3600, if the price holds 3600 level we can expect TARGET 2 at around 4000 zone, from thereon new ATH can form, this might take a bit of time so it is a long term strategy. OR just trail using 20/50 EMA.
2800-3000 is a strong support zone so if the breakout fails we can catch TCS in that zone.
We can make an entry now STOP LOSS@ 3100 (5-6%), TARGET 1 is 3600, if the price holds 3600 level we can expect TARGET 2 at around 4000 zone, from thereon new ATH can form, this might take a bit of time so it is a long term strategy. OR just trail using 20/50 EMA.
2800-3000 is a strong support zone so if the breakout fails we can catch TCS in that zone.
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