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FAHEEMSAM
Nov 3, 2020 1:30 AM

TCS - GAP FILLING Short

NSE:TCS60
TATA CONSULTANCY SNSE

Description

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TCS coming back to fill the long created gap.
Sell below : 2600
Target : 2555

Note:
  • Avoid the stock if a big gap up or gap down is seen
  • Enter after the breakout happens and not before it
  • Do not chase the market, i.e., do not get involved in late entries
  • Only enter with strict stop-loss and target
  • This is not a recommendation and is for educational purposes only.
  • always follow risk-reward and quantity management for the 100% of the times
  • The above mentioned idea may not work, so beware of the risk you are taking


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Happy Trading!!
Trend AnalysisChart PatternsWave AnalysisTCSCNXITshort
Comments
rshn50
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Gap shouldnt matter after such a long time. Although the gap border may act as a minor support. I am always learning about the market so I may not be right. Good luck. Also I am still holding on to TCS so yea perhaps might have a bias.
FAHEEMSAM
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@rshn50, it is acting as a support now. It may break or may be not. I am justing sharing my analysis. So actually i believe that time increase value of a support/resistance and not decrease. So this might will act an important price area. And when you look at history, gaps are always filled in the market. I think history will repeat.
rshn50
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@FAHEEMSAM,

Agree Gaps always get filled in due time. Sometimes within a day or sometimes takes months. In case of TCS, perhaps right after the buyback it should have a sharp fall and might reach 2400-2500 levels.

Went through some of your analysis. Thanks for your work and sharing it with us. Good Luck.
FAHEEMSAM
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@rshn50, TQ
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