TCS short idea using Pitchfork

vvb1110 Updated   
Schiff Pitchfork
Since TCS has already fallen below the 0.5 line of pitchfork
It is possible to touch the next level, blue line.
It is also possible for slight retest before breakdown.

Short Entry is possible below yesterday's low at 3385.
SL is at the Pitchfork 0.5 line at 3397.
Maximum target is higher at around 3290.
However, it has already fallen too much. Maybe one more downside is possibly remaining.
Being a bit conservative near previous highs, we can exit our trade at level 3350, 3300...
Even considering SL and round figure values as support, the first target gives us, minimum RR ratio of 3:1
Opened gap up today, no trade

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.