aks85
Short

TCS- Descending Channel- Sell Opportuninty

NSE:TCS   TATA CONSULTANCY S
136 2 6
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.
Comment: .50 Fib retracement of last swing i.e. 2175- achieved.
Well Drawn Channel, keep it up. Regards
Reply
aks85 NeeteshJain
Thanks a lot.
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