AbhishekHSinghCMT
Short

TCS - Bearish Bat & Doji Candle at 2500- Target 2465-2430-2400

NSE:TCS   TATA CONSULTANCY S
Bearish Bat at 2500. If TCS goes below 2490 - I shall be looking for target 2465-below 2465 for 2430 -below 2425 for 2400 & below 2400 -can be 2345.

Stoploss above 2516 ( 1 point above X- level)- In first place once it dips below 2490 - it should not bounce above 2500 which will early signal to be cautious in the trade else we enjoy 2465- 2430.

Candlestick Pattern- We have doji candle

What is a 'Doji'
Doji candlesticks look like a cross, inverted cross or plus sign. Alone, doji are neutral patterns that are also featured in a number of important patterns. A doji candlestick forms when open and close are virtually equal.

In our case open & close for current candle is 2496 so it qualifies for a doji candle.

When to execute the trade
As doji is a neutral pattern - we should wait for market to dip below 2492 - we will take 2490 as trigger point for targets mentioned above 2465- 2430 & below 2425 for 2400 & below 2400 for 2345.

If it bounces like a ball from 2425-2435 zone
Also, If TCS holds 2425-2435 - one can take long positions(buy) with stop loss below 2425 & target- 2465- 2500- 2525

Jul 24
Trade closed: stop reached: 13:23 Hrs 24th July2017

Last Price@2522

opened just below 2490 but could not hold below 2500 - which I suggested as sign of caution so likely trader could have exited the call with minimum 10 points stop.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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Comments

Trade closed stop reached it is UNESCO heritage line in your posts
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@SatyamMishra, I am always a trader with some levels if if crosses & in favour then happy but if it crosses against us then I am very fast to react without even wasting micro secs to dump the trade.
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