TCS- Descending Channel- Sell Opportuninty
Updated
As seen in Tata Consultancy, the price is moving in a descending channel forming lower highs and lower lows, indicating down trend in the daily charts .
Lately, the price has resisted the upper channel and .618 Fibonacci retracement of the last swing is acting as resistance. Also a break of low of Spinning top is a confirmation to sell.
Therefore, expecting the price to move towards the lower band.
Lately, the price has resisted the upper channel and .618 Fibonacci retracement of the last swing is acting as resistance. Also a break of low of Spinning top is a confirmation to sell.
Therefore, expecting the price to move towards the lower band.
Note
.50 Fib retracement of last swing i.e. 2175- achieved.
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